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Canadian dollar slides as economic growth grinds to a halt in November

Jan 30, 2015 / 3:02 pm

TORONTO - The Canadian dollar hit fresh, multi-year lows Friday as November's economic data came in worse than expected.The loonie finished well off early lows but still down 0.63 of a cent to 78.67 cents US as gross domestic product in November declined 0.2 per cent, worse than the flat showing...

Bank of Montreal cuts its five-year fixed mortgage rate to 4.79 per cent

Jan 30, 2015 / 2:38 pm

TORONTO - The Bank of Montreal (TSX:BMO) has cut its five-year fixed mortgage rate by 20 basis points to 4.79 per cent.The bank has also changed a number of its other fixed mortgage rates, including its low- rate five-year mortgage, which also went down 20 basis points to 3.09 per cent.The rate for...

Most actively traded companies on the TSX

Jan 30, 2015 / 2:28 pm

Some of the most active companies traded Friday on the Toronto Stock Exchange:Toronto Stock Exchange (14,673.48, up 36.20 points):Canadian Oil Sands Ltd. (TSX:COS). Oil and gas. Up $1, or 14.68 per cent, to $7.85 on 22.2 million shares.Eldorado Gold Corp. (TSX:ELD). Miner. Down 92 cents, or 13.11...

Ottawa reports $3.3B deficit for first eight months of 2014-15 fiscal year

Jan 30, 2015 / 2:04 pm

OTTAWA - The Canadian government says it posted a budgetary deficit of $3.3 billion over the first eight months of the 2014-15 fiscal year — a considerable change from the $13.4 billion shortfall over the same period in 2013-14.The Finance Department released its latest fiscal monitor...

N.W.T. opens land for first oil exploration auction since devolution

Jan 30, 2015 / 2:02 pm

OTTAWA - The Northwest Territories is holding its first auction for energy exploration licences since that responsibility was delegated to Yellowknife from Ottawa.The territory is putting rights to more than 160,000 hectares in the central Mackenzie Valley on the block.The devolution agreement with...

Energy stocks push TSX higher; loonie falls amid slowing economic growth numbers

Jan 30, 2015 / 1:42 pm

TORONTO - The Toronto stock market chalked up a modest advance Friday despite an unexpected decline in Canada's economy in November as the energy sector ran ahead amid a sharp gain in oil prices.The S&P/TSX composite index closed up 36.2 points at 14,673.48 as Statistics Canada said gross domestic...

CIBC lays off workers as banks face slowdown in consumer borrowing

Jan 30, 2015 / 1:26 pm

TORONTO - CIBC has become the latest Canadian bank to trim its head count at a time when all of the country's top lenders face a slowdown in consumer borrowing.Analysts say they expect more cost-cutting from the country's top lenders as they look to improve earnings amid slowing revenue growth."The...
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10 ads to watch out for on Super Bowl Sunday

Jan 30, 2015 / 1:22 pm

NEW YORK, N.Y. - It's almost show time.When the Super Bowl kicks off on Sunday, 40-plus advertisers will be hoping to win over the more than 110 million viewers tuning in. After paying $4.5 million for a 30-second spot, advertisers are hoping to have the ad everyone will be talking about Monday...

Five charged with fraud and money laundering in $92-million Ponzi scheme

Jan 30, 2015 / 1:18 pm

TORONTO - Former executives at Seaquest Corp. and Seaquest Capital Corp. have been charged in connection with an alleged Ponzi scheme that bilked investors out of $92 million.The RCMP allege that Seaquest collected the funds from investors and promised them rate of return of up to 36 per...

Lower fuel prices expected to drive airline profits and stock prices: analysts

Jan 30, 2015 / 12:42 pm

MONTREAL - After taking the stock market by storm in 2013, Air Canada's shares could double in the next year as low fuel prices boost profits at the airline and its rival WestJet, an industry analyst said Friday.Chris Murray of AltaCorp Capital raised his 12-month target price for Air Canada to $24...

US pay and benefits rose at steady pace last year, though gains remain modest

Jan 30, 2015 / 7:40 am

WASHINGTON - Wages and benefits rose at slightly healthier rate last year, a sign strong job gains could be forcing companies to pay a bit more for workers.The Labor Department said Friday that the employment cost index, which measures pay and benefits, rose 2.2 per cent in 2014, up from 2 per cent...

Barclays downgrades stocks of BMO, RBC and TD over economic concerns

Jan 30, 2015 / 7:36 am

TORONTO - Barclays has downgraded its stock ratings for three of Canada's biggest banks, citing concerns about how they'll be affected by a slowdown in the country's economy as a result of the recent drop in global oil prices.Analyst John Aiken lowered ratings for Bank of Montreal (TSX:BMO), Royal...

US consumer sentiment index rises to highest level since 2004, many expect further gains

Jan 30, 2015 / 7:22 am

WASHINGTON - U.S. consumers are more confident than they've been since January 2004. The University of Michigan says that its index of consumer sentiment rose to 98.1 in January from 93.6 last month. Consumers say the prospects for the U.S. economy are the strongest in a decade, and half...

US stock market opens lower after government reports slower economic growth late last year

Jan 30, 2015 / 6:44 am

NEW YORK, N.Y. - The U.S. stock market is opening lower after the government reported that U.S. economic growth slowed at the end of last year.The Dow Jones industrial average fell 81 points, or 0.5 per cent, to 17,335 as of 9:32 a.m. Eastern time Friday. The Standard & Poor's 500 index slipped...

Canada's gross domestic product fell 0.2 per cent in November: StatsCan

Jan 30, 2015 / 6:18 am

OTTAWA - Statistics Canada says the country's gross domestic product declined 0.2 per cent in November compared with the previous month, primarily because of manufacturing and several of the key resource sectors. The November reading was weaker than expected. Economists had estimated the...

Ontario health-care pension fund buys Ivanhoe Cambridge's half-share of 2 malls

Jan 30, 2015 / 4:46 am

MONTREAL - Ivanhoe Cambridge is selling its remaining 50 per cent stake in two Ontario shopping centres, in Windsor and Belleville, for $240 million as part of a strategic shift in the type of property it owns.The Montreal-based company said Friday the sale of its 50 per cent interest in Windsor's...

Russia cuts key interest rate to help economy, but depriving ruble of support

Jan 30, 2015 / 4:20 am

MOSCOW - In a surprise decision, Russia's central bank on Friday cut its key interest rate, which it had raised sharply last month to support the collapsing ruble, in order to help the fading economy.The move triggered a drop in the ruble, which was down more than 3 per cent at 71 rubles against...

Prices in the 19 euro countries fall 0.6 per cent annually in January as ECB readies stimulus

Jan 30, 2015 / 3:14 am

FRANKFURT - Falling prices sent another worrying signal about the eurozone economy just before the European Central Bank starts at 1 trillion euro ($1.1 trillion) stimulus effort.Consumer prices fell 0.6 per cent in the 12 months to January, accelerating the 0.2 per cent annual drop in...

Ikea Canada's president talks business, furniture assembly and winter

Jan 30, 2015 / 1:02 am

TORONTO - Ikea Canada's new president has an eye towards expansion in 2015 but is not saying whether the Swedish furniture giant will add to its 12 Canadian stores or open pickup locations. Stefan Sjostrand, who took on the job last September, says shoppers can expect this year to see a...

CIBC cuts 500 jobs is past 2 weeks: Wall Street Journal report

Jan 29, 2015 / 7:42 pm

TORONTO - A published report says the Canadian Imperial Bank of Commerce (TSX:CM) has cut more than 500 jobs over the past two weeks. The Wall Street Journal quoted an email from the bank as saying the reductions are part of "an overall alignment of resources." The cuts at CIBC...
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Today's Market
S&P TSX14673.48+37.521
S&P CDNX676.81+9.70
DJIA17164.95-251.90
Nasdaq4635.24-48.167
S&P 5001994.99-26.26
CDN Dollar0.7856-0.0067
Gold1286.60-5.10
Oil49.60+3.16
Lumber322.50+0.70
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.400.00
Cantex0.035-0.005
Anavex Life Sciences0.174-0.006
Metalex Ventures0.040.00
Russel Metals23.42-0.16
Copper Mountain Mining0.99+0.01
Colorado Resources0.150.00
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.050.00
Mission Ready Services0.2350.00

 
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