TSX pushes into red; Research in Motion is a major drag Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 29, 2011) Clearlease Reports The Toronto stock market sank into the red at midday Friday as a double-digit drop in shares of market heavyweight Research in Motion weighed on the main index after it announced a gloomy outlook.
The S&P/TSX composite index was down 21.2 points to 13,873.2 after earlier posting slight gains. The information technology sector led decliners, down 2.3 per cent, outweighing gains in nearly every other sector. The TSX Venture Exchange fell 6.9 points to 2,239.32.
The way the TSX is closing the week — fluctuating between positive and negative territory — is appropriate given that the market has struggled to find direction for the past few days, said John Kurgan, senior markets strategist at Lind-Waldock.
Investors have been digesting a slew of largely positive earnings as well as some disappointing economic data from both sides of the border. In addition, Friday marks the last trading day of the month, contributing to a pick up in resource stocks, which had been trading lower for most of the week.
“There might be perhaps a little bit of window dressing going on,” Kurgan said.
“They may have dressed it up a little bit or added a few more positions because metals have been advancing nicely … and that’s all it would take to move some of these stocks a little bit.”
The loonie gained 0.21 of a cent to 105.36 cents US as the greenback slid against most other major currencies on expectations that the Federal Reserve will keep interest rates low to nourish U.S. economic growth despite rising oil and food prices.
It had fallen against the U.S. dollar earlier after Statistics Canada released a report saying real gross domestic product fell 0.2 per cent in February on the heels of a 0.5 per cent increase in January.
Most economists had expected GDP would remain flat after consecutive 0.5 per cent gains in December and January. However, there seemed to be minimal concern that February’s results were a sign of a wider slowdown to come.
“Canada’s winning streak hasn’t been broken—the economy just took a pause after a heated expansion,” said Emanuella Enenajor, an economist at CIBC World Markets.
First-quarter GDP should still come close to four per cent if there is a rebound in March.
Oil moved ahead 22 cents to US$113.08 a barrel on the New York Mercantile Exchange. Gold prices surged $12.70 to US$1,543.90. Copper was down nine cents to $4.16 as concerns persist that China could move to slow growth, which could hamper resource demand.
The TSX mining sector was up 1.2 per cent. The energy sector added 0.2 per cent.
However, shares in BlackBerry-maker Research in Motion (TSX:RIM) were down more than 13 per cent in morning trading as investors responded to the company reducing its financial guidance.
RIM’s stock pulled back 13.3 per cent or $7.18 to $46.65 on the Toronto stock market.
On Thursday, after stock markets closed, the company cut its guidance based on lower than expected shipments of BlackBerry smartphones and reduced average selling prices for the devices.
The financial sector was also in the red, down 0.12 per cent with shares in Toronto-Dominion Bank (TSX:TD) down six cents to $81.53.
In Canadian corporate earnings, pipeline company TransCanada Corp. (TSX:TRP) first-quarter net income rises 39 per cent to $465 million from year-ago $334 million. Shares gained 17 cents to $40.52.
Lundin Mining Corp (TSX:LUN) shares were up 10.3 per cent or 86 cents to $9.20 after trading resumed Friday morning after being halted at market open in response to a report that it is considering a takeover offer from a Chinese consortium. However, it said only that it was continuing a previously announced process to explore its strategic options.
Wall Street markets mostly moved ahead after another round of positive earnings from major U.S. companies.
The Dow Jones industrial average rose 45.2 points to 12,808.5, while the Nasdaq fell 2.97 points to 2,869.56. The S&P index was up 0.9 points to 1,361.4.
Fresh data from the U.S. Commerce Department showed personal incomes rose 0.5 per cent last month and consumer spending increased 0.6 per cent. But after adjusting for inflation, spending rose a much more subdued 0.2 per cent and after-tax incomes were essentially flat.
U.S. data released Thursday showed the world’s biggest economy lost steam in the first three months of the year. That helped push oil prices to near $112 a barrel and pushed the dollar down against the Canadian dollar, the yen and the euro.
In Europe, London’s FTSE was closed for the British royal wedding. Germany’s DAX was ahead 0.5 per cent while France’s CAC 40 was 0.01 per cent higher.
Video Link: http://youtu.be/f_kk7WJa7Uk
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. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
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 – (April 29, 2011) Clearlease Reports The Toronto stock market sank into the red at midday Friday as a double-digit drop in shares of market heavyweight Research in Motion weighed on the main index after it announced a gloomy outlook.
The S&P/TSX composite index was down 21.2 points to 13,873.2 after earlier posting slight gains. The information technology sector led decliners, down 2.3 per cent, outweighing gains in nearly every other sector. The TSX Venture Exchange fell 6.9 points to 2,239.32.
The way the TSX is closing the week — fluctuating between positive and negative territory — is appropriate given that the market has struggled to find direction for the past few days, said John Kurgan, senior markets strategist at Lind-Waldock.
Investors have been digesting a slew of largely positive earnings as well as some disappointing economic data from both sides of the border. In addition, Friday marks the last trading day of the month, contributing to a pick up in resource stocks, which had been trading lower for most of the week.
“There might be perhaps a little bit of window dressing going on,” Kurgan said.
“They may have dressed it up a little bit or added a few more positions because metals have been advancing nicely … and that’s all it would take to move some of these stocks a little bit.”
The loonie gained 0.21 of a cent to 105.36 cents US as the greenback slid against most other major currencies on expectations that the Federal Reserve will keep interest rates low to nourish U.S. economic growth despite rising oil and food prices.
It had fallen against the U.S. dollar earlier after Statistics Canada released a report saying real gross domestic product fell 0.2 per cent in February on the heels of a 0.5 per cent increase in January.
Most economists had expected GDP would remain flat after consecutive 0.5 per cent gains in December and January. However, there seemed to be minimal concern that February’s results were a sign of a wider slowdown to come.
“Canada’s winning streak hasn’t been broken—the economy just took a pause after a heated expansion,” said Emanuella Enenajor, an economist at CIBC World Markets.
First-quarter GDP should still come close to four per cent if there is a rebound in March.
Oil moved ahead 22 cents to US$113.08 a barrel on the New York Mercantile Exchange. Gold prices surged $12.70 to US$1,543.90. Copper was down nine cents to $4.16 as concerns persist that China could move to slow growth, which could hamper resource demand.
The TSX mining sector was up 1.2 per cent. The energy sector added 0.2 per cent.
However, shares in BlackBerry-maker Research in Motion (TSX:RIM) were down more than 13 per cent in morning trading as investors responded to the company reducing its financial guidance.
RIM’s stock pulled back 13.3 per cent or $7.18 to $46.65 on the Toronto stock market.
On Thursday, after stock markets closed, the company cut its guidance based on lower than expected shipments of BlackBerry smartphones and reduced average selling prices for the devices.
The financial sector was also in the red, down 0.12 per cent with shares in Toronto-Dominion Bank (TSX:TD) down six cents to $81.53.
In Canadian corporate earnings, pipeline company TransCanada Corp. (TSX:TRP) first-quarter net income rises 39 per cent to $465 million from year-ago $334 million. Shares gained 17 cents to $40.52.
Lundin Mining Corp (TSX:LUN) shares were up 10.3 per cent or 86 cents to $9.20 after trading resumed Friday morning after being halted at market open in response to a report that it is considering a takeover offer from a Chinese consortium. However, it said only that it was continuing a previously announced process to explore its strategic options.
Wall Street markets mostly moved ahead after another round of positive earnings from major U.S. companies.
The Dow Jones industrial average rose 45.2 points to 12,808.5, while the Nasdaq fell 2.97 points to 2,869.56. The S&P index was up 0.9 points to 1,361.4.
Fresh data from the U.S. Commerce Department showed personal incomes rose 0.5 per cent last month and consumer spending increased 0.6 per cent. But after adjusting for inflation, spending rose a much more subdued 0.2 per cent and after-tax incomes were essentially flat.
U.S. data released Thursday showed the world’s biggest economy lost steam in the first three months of the year. That helped push oil prices to near $112 a barrel and pushed the dollar down against the Canadian dollar, the yen and the euro.
In Europe, London’s FTSE was closed for the British royal wedding. Germany’s DAX was ahead 0.5 per cent while France’s CAC 40 was 0.01 per cent higher.
Video Link: http://youtu.be/f_kk7WJa7Uk
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. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
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
TSX pushes into red; Research in Motion is a major drag Dominion Lending Centres Clearlease
VANCOUVER, BRITISH COLUMBIA – (April 29, 2011) Clearlease Reports The Toronto stock market sank into the red at midday Friday as a double-digit drop in shares of market heavyweight Research in Motion weighed on the main index after it announced a gloomy outlook.
The S&P/TSX composite index was down 21.2 points to 13,873.2 after earlier posting slight gains. The information technology sector led decliners, down 2.3 per cent, outweighing gains in nearly every other sector. The TSX Venture Exchange fell 6.9 points to 2,239.32.
The way the TSX is closing the week — fluctuating between positive and negative territory — is appropriate given that the market has struggled to find direction for the past few days, said John Kurgan, senior markets strategist at Lind-Waldock.
Investors have been digesting a slew of largely positive earnings as well as some disappointing economic data from both sides of the border. In addition, Friday marks the last trading day of the month, contributing to a pick up in resource stocks, which had been trading lower for most of the week.
“There might be perhaps a little bit of window dressing going on,” Kurgan said.
“They may have dressed it up a little bit or added a few more positions because metals have been advancing nicely … and that’s all it would take to move some of these stocks a little bit.”
The loonie gained 0.21 of a cent to 105.36 cents US as the greenback slid against most other major currencies on expectations that the Federal Reserve will keep interest rates low to nourish U.S. economic growth despite rising oil and food prices.
It had fallen against the U.S. dollar earlier after Statistics Canada released a report saying real gross domestic product fell 0.2 per cent in February on the heels of a 0.5 per cent increase in January.
Most economists had expected GDP would remain flat after consecutive 0.5 per cent gains in December and January. However, there seemed to be minimal concern that February’s results were a sign of a wider slowdown to come.
“Canada’s winning streak hasn’t been broken—the economy just took a pause after a heated expansion,” said Emanuella Enenajor, an economist at CIBC World Markets.
First-quarter GDP should still come close to four per cent if there is a rebound in March.
Oil moved ahead 22 cents to US$113.08 a barrel on the New York Mercantile Exchange. Gold prices surged $12.70 to US$1,543.90. Copper was down nine cents to $4.16 as concerns persist that China could move to slow growth, which could hamper resource demand.
The TSX mining sector was up 1.2 per cent. The energy sector added 0.2 per cent.
However, shares in BlackBerry-maker Research in Motion (TSX:RIM) were down more than 13 per cent in morning trading as investors responded to the company reducing its financial guidance.
RIM’s stock pulled back 13.3 per cent or $7.18 to $46.65 on the Toronto stock market.
On Thursday, after stock markets closed, the company cut its guidance based on lower than expected shipments of BlackBerry smartphones and reduced average selling prices for the devices.
The financial sector was also in the red, down 0.12 per cent with shares in Toronto-Dominion Bank (TSX:TD) down six cents to $81.53.
In Canadian corporate earnings, pipeline company TransCanada Corp. (TSX:TRP) first-quarter net income rises 39 per cent to $465 million from year-ago $334 million. Shares gained 17 cents to $40.52.
Lundin Mining Corp (TSX:LUN) shares were up 10.3 per cent or 86 cents to $9.20 after trading resumed Friday morning after being halted at market open in response to a report that it is considering a takeover offer from a Chinese consortium. However, it said only that it was continuing a previously announced process to explore its strategic options.
Wall Street markets mostly moved ahead after another round of positive earnings from major U.S. companies.
The Dow Jones industrial average rose 45.2 points to 12,808.5, while the Nasdaq fell 2.97 points to 2,869.56. The S&P index was up 0.9 points to 1,361.4.
Fresh data from the U.S. Commerce Department showed personal incomes rose 0.5 per cent last month and consumer spending increased 0.6 per cent. But after adjusting for inflation, spending rose a much more subdued 0.2 per cent and after-tax incomes were essentially flat.
U.S. data released Thursday showed the world’s biggest economy lost steam in the first three months of the year. That helped push oil prices to near $112 a barrel and pushed the dollar down against the Canadian dollar, the yen and the euro.
In Europe, London’s FTSE was closed for the British royal wedding. Germany’s DAX was ahead 0.5 per cent while France’s CAC 40 was 0.01 per cent higher.
Video Link: http://youtu.be/f_kk7WJa7Uk
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. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
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