Toronto stock prices fall before Powell's Fed comments
Canada's main index of stocks fell on Monday as mining stocks were hurt. Investors awaited Federal Reserve Chair Jerome Powell to speak later that day for clues about U.S. policies outlook. The Canadian market took its cues also from Wall Street where the benchmark S&P500 was down by over 0.1%.
TSX reaches record highs as markets bet on possible Fed rate cuts
Canada's main index of stocks hit a new record on Tuesday. Energy stocks helped to boost the index as investors assessed domestic annual inflation figures amid optimism about a policy cut made by the U.S. Federal Reserve last week. If gains continue, the S&P/TSX Composite…
TSX reaches record high in anticipation of a larger US rate reduction
Canada's main index of stocks hit another record on Friday, in a rally that was led by mining companies. Investors reacted to the overnight surge in expectations for a large U.S. rate cut next Monday. The Toronto Stock Exchange’s S&P/TSX Composite index rose 143.04 or 0.61% to 23…
Toronto stocks are up as resource-linked stocks gain.
Canada's main index of stocks rose on Thursday. This was largely due to gains in mining shares, as the latest U.S. data confirmed the possibility of an interest rate cut by a quarter basis point next week. The Toronto Stock Exchange’s S&P/TSX Composite index rose 87.91, or 0.38% to 23,299.08, and hovered near a new record high.
Investors react negatively to US inflation data, causing TSX to fall
Canada's main index of stocks fell on Wednesday, part of a wider decline. Mixed U.S. data on inflation reduced expectations for a 50-basis point rate cut next week in the United States. At 10:19 am. The S&P/TSX Composite Index of the Toronto Stock Exchange was down 126.22 or 0.55% at 22,876.87 by 14:19 GMT.
TSX sluggish as gains in CPI are offset by energy shares
Canada's main index of stocks was down on Tuesday, as the losses in energy shares tempered gains from consumer price data which showed that inflation had cooled to a low of 40 months in July. This raised hopes for a rate cut next month. At 9:56 am. The S&P/TSX Composite index rose 3.48 points or 0.02% to 23…
Gran Tierra Energy, a Canadian company, offers $226 million to buy UK-based i3 Energy.
The shares of i3 Energy jumped up to 33.7% in the morning on Tuesday after Canada's Gran Tierra Energy made an offer to purchase the British oil producer for 174.1 million pounds (226.23 millions). The implied value of the deal is 13.92 pences per i3 Energy's share.
Precision Drilling Trumps Ensign Bid for Peer Trinidad
North American drilling contractor Precision Drilling Corp on Friday said it would buy Trinidad Drilling Ltd in a deal valued at C$1.03 billion ($796 million), trumping a hostile bid from rival Ensign Energy Services.The acquisition, which has an enterprise value of about C$4 billion…
Canada Ready to Cover Kinder Morgan Loss
Canada is prepared to cover some losses Kinder Morgan Canada Ltd might suffer if a proposed oil pipeline expansion is delayed and thinks other investors are ready to step in if need be, Finance Minister Bill Morneau said on Wednesday. The company has given Ottawa a…
TransCanada to Proceed with Gas Line Expansion
TransCanada Corp, Canada's second largest pipeline operator, said on Thursday that it would go ahead with the C$2.4 billion ($1.9 billion) expansion of its NGTL natural gas system, boosting pipeline access for producers in Western Canada's gas-rich basins. The Calgary-based company also reported a strong fourth quarter profit…
Enbridge Shares Climb After $2.3 bln in Asset Sales
Enbridge Inc shares jumped as much as 6.2 percent on Thursday after North America's largest energy infrastructure company announced plans to sell C$3 billion ($2.3 billion) of noncore assets to focus on its central business. The company is also raising C$1.5 billion by selling new shares to pay down debt.
US Charges Penn West Petroleum with Accounting Fraud
U.S. securities regulators on Wednesday filed civil accounting fraud charges against Canada-based oil and gas company Penn West Petroleum Ltd and several of its former top finance executives. The U.S. Securities and Exchange Commission alleged Penn West Petroleum, which this week changed its name to Obsidian Energy…
Cenovus to Face Investors as Shares Decline
Cenovus Energy Inc will seek on Tuesday to convince investors of the value of an unpopular acquisition this year amid continuing skepticism from shareholders. At an annual investor event in Toronto, Chief Executive Brian Ferguson is expected to unveil plans for asset…
Kinder Morgan Canada Shares Drop
Shares in Kinder Morgan Canadian debuted at C$16.06 on Tuesday on the Toronto Stock Exchange after raising C$1.75 billion ($1.3 billion) in an initial public offering (IP0) at C$17.00 each last week. Kinder Morgan spun off its Canadian unit to part-finance the expansion of Trans Mountain pipeline…
Cenovus Mulls Restart of Two Oil Sands Projects
Canadian oil and gas producer Cenovus Energy Inc said on Thursday it is doing engineering and design work at two of its deferred oil sands projects in northern Alberta and it could potentially reactivate them in 2018 and 2019, respectively. The two projects, Foster Lake phase H and Narrows Lake phase A…
Encana Posts Better-than-expected Operating Profit
Encana Corp, Canada's No. 2 oil and natural gas producer, reported a better-than-expected quarterly operating profit on Thursday, helped by a cash tax recovery. The Calgary-based company also updated 2017 guidance, forecasting capital expenditures between $1.6 billion and $1.8 billion and production between 320…
Teck Beats Street, but Shares Slide on Coal Demand
Canadian miner Teck Resources Ltd reported a better-than-expected quarterly profit on Wednesday, lifted by a surge in the price of coal for steelmaking, but weaker demand at the start of the year spooked investors, sending its shares lower. Teck, North America's largest producer of steelmaking - or coking - coal…
TMX in Talks to Bring Saudi Aramco listing to Toronto
TMX Group, owner of the Toronto Stock Exchange, said on Wednesday that it is in talks with Saudi Arabia over the possibility of Saudi Aramco listing in Canada. The IPO, which Saudi officials expect to value the oil producer at a minimum of $2 trillion, is the centerpiece…
Trump Signs Orders Advancing Keystone, Dakota Pipelines
U.S. President Donald Trump signed orders on Tuesday smoothing the path for the controversial Keystone XL and Dakota Access oil pipelines, rolling back key Obama administration environmental actions in favor of expanding energy infrastructure. While oil producers in…
Cenovus Raising Budget, Resuming Christina Lake Expansion
Canadian oil producer Cenovus Energy Inc said on Thursday it planned to increase its 2017 capital budget by about 24 percent and will resume work on the expansion of its oil sands project in Christina Lake. The Calgary, Alberta-based company said it intended to invest between C$1.2 billion-C$1.4 billion ($1.06 billion)…
