Dominion Lending Centres Clearlease Reports TSX down sharply, U.S. economic worries helps send oil prices tumbling
VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports The Toronto stock market was sharply lower Thursday as oil prices continued to retreat amid worries that the U.S. economic recovery could be stalling.
The S&P /TSX composite index lost 116.44 points to 13,494.89 while the TSX Venture Exchange fell 33.55 points to 2,092.13.
Falling commodity prices helped send the Canadian dollar down 0.78 of a US cent to 103.55 cents US. The June crude contract on the New York Mercantile Exchange dropped $3.52 to US$105.72 a barrel, down from a 2 1/2-year high above US$114 late last week as traders eyed signs U.S economic growth is faltering. The poor economic news had helped push oil down almost US$2 on Wednesday.
The Institute for Supply Management said Wednesday its service sector index rose at the slowest pace in eight months in April, while private payroll processor ADP reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
The energy sector was down 1.65 per cent as Suncor Energy (TSX:SU) fell $1.11 to C$40.69 while Canadian Natural Resources (TSX:CNQ) lost 81 cents to $41.53.
Metal prices also retreated with the June gold contract on the Nymex down $8.30 to US$1,507. The gold sector fell almost one per cent while Goldcorp Inc. (TSX:G) gained 43 cents to $48.34.
Silver prices also continued to retreat with the July silver contract in New York down $1.71 to US$37.68 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements. The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls.
Endeavour Silver (TSX:EDR) lost 35 cents to C$9.23.
The base metals sector was down 1.76 per cent while the July copper contract in New York fell 12 cents to US$4.02. Teck Resources (TSX:TCK.B) lost 93 cents to C$48.69.
Losses spread through all TSX sectors save health.
The financials sector shed 0.3 per cent with Royal Bank (TSX:RY) down 35 cents to $57.88 while Manulife Financial (TSX:MFC) shares gained 24 cents to $17.06 as the insurer reported that first-quarter net income fell to $985 million, or 54 cents per share, compared to $1.22 billion, or 68 cents per share a year ago. Revenue slipped to $7.15 billion from $9.23 billion.
Investors also took in earnings news from Canada’s biggest airline and the largest North American auto company.
Air Canada (TSX:AC.B) tightened losses in the first-quarter as it booked a major foreign exchange gain, but the carrier also warned that high fuel prices are adding pressure to its results. The carrier said that losses came in at $19 million for the quarter, compared to a deeper $112 million loss a year ago and its shares gained two cents to $2.28.
General Motors said its first-quarter net income more than tripled on strong car sales in the U.S. and China. GM’s net income totalled US$3.2 billion, or $1.77 per share, one of its best performances since the SUV boom in the early 2000s. It was GM’s fifth straight quarterly profit since late 2009, the year it emerged from bankruptcy. Quarterly revenue rose 15 per cent to US$36.2 billion but its shares lost $1.05 to US$31.99.
New York markets were also negative with the Dow Jones industrial average down 48.51 points to 12,675.07.
The Nasdaq composite index shed 8.28 points to 2,819.95 while the S&P 500 index was off 6.91 points to 1,340.41.
In other economic news, there was good news from the Canadian housing sector. Statistics Canada said municipalities issued $6.8 billion in building permits in March, up 17.2 per cent from February’s level.
Elsewhere on the corporate front, wireless carrier Telus (TSX:T) reported first-quarter profit was $328 million, or $1.01 per share, compared to $273 million, or 85 cents per share during the same period last year. Revenue was $2.5 billion, compared to $2.3 billion a year earlier. Shares in Telus were off 16 cents at $49.82.
Yellow Pages owner Yellow Media (TSX:YLO) reported a net loss of $34.6 million in the first quarter, compared to earnings of $127.1 million a year earlier, as it booked a $112-million writedown related to the proposed sale of Trader Corp. Revenue grew slightly to $349.4 million from $339.7 million a year prior. Its shares gained eight cents to $4.52.
Earlier in Asia, inflation worries remained a dominant theme in the region in a week that has already seen India’s central bank lift interest rates and the People’s Bank of China hint that it may do so again soon.
The benchmark Shanghai Composite Index gained 0.2 per cent and the Shenzhen Composite Index gained 0.3 per cent following losses on Wednesday.
Hong Kong ‘s Hang Seng index dropped 0.2 per cent but markets in South Korea and Japan were closed for holidays.
European bourses were lower as the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
Meanwhile, the Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
London’s FTSE 100 index was down 1.09 per cent, Frankfurt’s DAX shed 0.75 per cent while the Paris CAC 40 declined 1.36 per cent.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BRITISH COLUMBIA – (May 5, 2011) Clearlease Reports The Toronto stock market was sharply lower Thursday as oil prices continued to retreat amid worries that the U.S. economic recovery could be stalling.
The S&P /TSX composite index lost 116.44 points to 13,494.89 while the TSX Venture Exchange fell 33.55 points to 2,092.13.
Falling commodity prices helped send the Canadian dollar down 0.78 of a US cent to 103.55 cents US. The June crude contract on the New York Mercantile Exchange dropped $3.52 to US$105.72 a barrel, down from a 2 1/2-year high above US$114 late last week as traders eyed signs U.S economic growth is faltering. The poor economic news had helped push oil down almost US$2 on Wednesday.
The Institute for Supply Management said Wednesday its service sector index rose at the slowest pace in eight months in April, while private payroll processor ADP reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
The energy sector was down 1.65 per cent as Suncor Energy (TSX:SU) fell $1.11 to C$40.69 while Canadian Natural Resources (TSX:CNQ) lost 81 cents to $41.53.
Metal prices also retreated with the June gold contract on the Nymex down $8.30 to US$1,507. The gold sector fell almost one per cent while Goldcorp Inc. (TSX:G) gained 43 cents to $48.34.
Silver prices also continued to retreat with the July silver contract in New York down $1.71 to US$37.68 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements. The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls.
Endeavour Silver (TSX:EDR) lost 35 cents to C$9.23.
The base metals sector was down 1.76 per cent while the July copper contract in New York fell 12 cents to US$4.02. Teck Resources (TSX:TCK.B) lost 93 cents to C$48.69.
Losses spread through all TSX sectors save health.
The financials sector shed 0.3 per cent with Royal Bank (TSX:RY) down 35 cents to $57.88 while Manulife Financial (TSX:MFC) shares gained 24 cents to $17.06 as the insurer reported that first-quarter net income fell to $985 million, or 54 cents per share, compared to $1.22 billion, or 68 cents per share a year ago. Revenue slipped to $7.15 billion from $9.23 billion.
Investors also took in earnings news from Canada’s biggest airline and the largest North American auto company.
Air Canada (TSX:AC.B) tightened losses in the first-quarter as it booked a major foreign exchange gain, but the carrier also warned that high fuel prices are adding pressure to its results. The carrier said that losses came in at $19 million for the quarter, compared to a deeper $112 million loss a year ago and its shares gained two cents to $2.28.
General Motors said its first-quarter net income more than tripled on strong car sales in the U.S. and China. GM’s net income totalled US$3.2 billion, or $1.77 per share, one of its best performances since the SUV boom in the early 2000s. It was GM’s fifth straight quarterly profit since late 2009, the year it emerged from bankruptcy. Quarterly revenue rose 15 per cent to US$36.2 billion but its shares lost $1.05 to US$31.99.
New York markets were also negative with the Dow Jones industrial average down 48.51 points to 12,675.07.
The Nasdaq composite index shed 8.28 points to 2,819.95 while the S&P 500 index was off 6.91 points to 1,340.41.
In other economic news, there was good news from the Canadian housing sector. Statistics Canada said municipalities issued $6.8 billion in building permits in March, up 17.2 per cent from February’s level.
Elsewhere on the corporate front, wireless carrier Telus (TSX:T) reported first-quarter profit was $328 million, or $1.01 per share, compared to $273 million, or 85 cents per share during the same period last year. Revenue was $2.5 billion, compared to $2.3 billion a year earlier. Shares in Telus were off 16 cents at $49.82.
Yellow Pages owner Yellow Media (TSX:YLO) reported a net loss of $34.6 million in the first quarter, compared to earnings of $127.1 million a year earlier, as it booked a $112-million writedown related to the proposed sale of Trader Corp. Revenue grew slightly to $349.4 million from $339.7 million a year prior. Its shares gained eight cents to $4.52.
Earlier in Asia, inflation worries remained a dominant theme in the region in a week that has already seen India’s central bank lift interest rates and the People’s Bank of China hint that it may do so again soon.
The benchmark Shanghai Composite Index gained 0.2 per cent and the Shenzhen Composite Index gained 0.3 per cent following losses on Wednesday.
Hong Kong ‘s Hang Seng index dropped 0.2 per cent but markets in South Korea and Japan were closed for holidays.
European bourses were lower as the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
Meanwhile, the Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
London’s FTSE 100 index was down 1.09 per cent, Frankfurt’s DAX shed 0.75 per cent while the Paris CAC 40 declined 1.36 per cent.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports TSX down sharply, U.S. economic worries helps send oil prices tumbling
VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports The Toronto stock market was sharply lower Thursday as oil prices continued to retreat amid worries that the U.S. economic recovery could be stalling.
The S&P /TSX composite index lost 116.44 points to 13,494.89 while the TSX Venture Exchange fell 33.55 points to 2,092.13.
Falling commodity prices helped send the Canadian dollar down 0.78 of a US cent to 103.55 cents US. The June crude contract on the New York Mercantile Exchange dropped $3.52 to US$105.72 a barrel, down from a 2 1/2-year high above US$114 late last week as traders eyed signs U.S economic growth is faltering. The poor economic news had helped push oil down almost US$2 on Wednesday.
The Institute for Supply Management said Wednesday its service sector index rose at the slowest pace in eight months in April, while private payroll processor ADP reported that 179,000 new private sector jobs were added in April, far fewer than economists expected.
And on Thursday, the U.S. Labour Department reported that claims for unemployment insurance surged to 474,000 last week from 431,000. The U.S. government is scheduled to announce April non-farm payroll numbers Friday.
Traders are also looking ahead to the release of Canadian employment data for April on Friday. Economists expect that about 20,000 jobs were created last month.
The energy sector was down 1.65 per cent as Suncor Energy (TSX:SU) fell $1.11 to C$40.69 while Canadian Natural Resources (TSX:CNQ) lost 81 cents to $41.53.
Metal prices also retreated with the June gold contract on the Nymex down $8.30 to US$1,507. The gold sector fell almost one per cent while Goldcorp Inc. (TSX:G) gained 43 cents to $48.34.
Silver prices also continued to retreat with the July silver contract in New York down $1.71 to US$37.68 an ounce.
The drop came after the main U.S. metals exchange announced further hikes to margin requirements. The latest hike amounts to an 84 per cent increase in margin requirements in two weeks by CME Group Ltd., spread over four separate changes.
Silver prices are down over 20 per cent this week and analysts say volatility in the sector has spread to other areas since investors have been forced to sell other securities to meet higher margin calls.
Endeavour Silver (TSX:EDR) lost 35 cents to C$9.23.
The base metals sector was down 1.76 per cent while the July copper contract in New York fell 12 cents to US$4.02. Teck Resources (TSX:TCK.B) lost 93 cents to C$48.69.
Losses spread through all TSX sectors save health.
The financials sector shed 0.3 per cent with Royal Bank (TSX:RY) down 35 cents to $57.88 while Manulife Financial (TSX:MFC) shares gained 24 cents to $17.06 as the insurer reported that first-quarter net income fell to $985 million, or 54 cents per share, compared to $1.22 billion, or 68 cents per share a year ago. Revenue slipped to $7.15 billion from $9.23 billion.
Investors also took in earnings news from Canada’s biggest airline and the largest North American auto company.
Air Canada (TSX:AC.B) tightened losses in the first-quarter as it booked a major foreign exchange gain, but the carrier also warned that high fuel prices are adding pressure to its results. The carrier said that losses came in at $19 million for the quarter, compared to a deeper $112 million loss a year ago and its shares gained two cents to $2.28.
General Motors said its first-quarter net income more than tripled on strong car sales in the U.S. and China. GM’s net income totalled US$3.2 billion, or $1.77 per share, one of its best performances since the SUV boom in the early 2000s. It was GM’s fifth straight quarterly profit since late 2009, the year it emerged from bankruptcy. Quarterly revenue rose 15 per cent to US$36.2 billion but its shares lost $1.05 to US$31.99.
New York markets were also negative with the Dow Jones industrial average down 48.51 points to 12,675.07.
The Nasdaq composite index shed 8.28 points to 2,819.95 while the S&P 500 index was off 6.91 points to 1,340.41.
In other economic news, there was good news from the Canadian housing sector. Statistics Canada said municipalities issued $6.8 billion in building permits in March, up 17.2 per cent from February’s level.
Elsewhere on the corporate front, wireless carrier Telus (TSX:T) reported first-quarter profit was $328 million, or $1.01 per share, compared to $273 million, or 85 cents per share during the same period last year. Revenue was $2.5 billion, compared to $2.3 billion a year earlier. Shares in Telus were off 16 cents at $49.82.
Yellow Pages owner Yellow Media (TSX:YLO) reported a net loss of $34.6 million in the first quarter, compared to earnings of $127.1 million a year earlier, as it booked a $112-million writedown related to the proposed sale of Trader Corp. Revenue grew slightly to $349.4 million from $339.7 million a year prior. Its shares gained eight cents to $4.52.
Earlier in Asia, inflation worries remained a dominant theme in the region in a week that has already seen India’s central bank lift interest rates and the People’s Bank of China hint that it may do so again soon.
The benchmark Shanghai Composite Index gained 0.2 per cent and the Shenzhen Composite Index gained 0.3 per cent following losses on Wednesday.
Hong Kong ‘s Hang Seng index dropped 0.2 per cent but markets in South Korea and Japan were closed for holidays.
European bourses were lower as the European Central Bank left its key interest rate unchanged at 1.25 per cent after raising rates a quarter-point last month from the record low of one per cent and has made it clear that more increases are coming to contain inflation.
Meanwhile, the Bank of England announced it was keeping its key interest rate at a record low of 0.5 per cent amid sluggish economic growth and a surprise drop in the inflation rate.
London’s FTSE 100 index was down 1.09 per cent, Frankfurt’s DAX shed 0.75 per cent while the Paris CAC 40 declined 1.36 per cent.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk