July 16, 2019 – Canadian Investor

Most actively traded companies on the TSX

July 16, 2019 Editor

Some of the most active companies traded Tuesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,502.42, down 8.40 points). Turquoise Hill Resources Ltd. (TSX:TRQ). Materials. Down 60 cents, or 43.17 per cent, to 79 cents on 14.2 million shares. Encana Corp. (TSX:ECA). Energy. Down 10 cents, or 1.62 per cent, to $6.08 on 10.3 million shares. Bombardier Inc. (TSX:BBD.B). Industrials. Up three cents,... Read More

TSX down as oil prices fall on easing tensions with Iran; U.S. markets also lower

July 16, 2019 CanadianInvestor

TORONTO — Canada’s main stock index inched lower Tuesday as oil prices fell on easing geopolitical risks in the Middle East. The S&P/TSX composite index closed down 8.40 points at 16,502.42. In New York, the Dow Jones industrial average was down 23.53 points at 27,335.63. The S&P 500 index was down 10.26 points at 3,004.04, while the Nasdaq composite was down 35.39... Read More

Canada’s multibillion-dollar national shipbuilding strategy, at a glance

July 16, 2019 CanadianInvestor

OTTAWA — The federal government announced $1.5 billion in contracts — $1 billion worth finalized and another worth $500 million to come — Tuesday to keep a dozen warships running for another 20 years as part of Canada’s decades-long, multibillion-dollar national shipbuilding strategy. What is the national shipbuilding strategy? The strategy, launched in 2010 by the then-Conservative government, is to supply new vessels — for both combat and... Read More

FortisBC signs term contract to send LNG by shipping container to Chinese client

July 16, 2019 CanadianInvestor

FortisBC says it has signed its first term contract to send liquefied natural gas shipments to China from its facility near Vancouver. The utility company, which has operated its Tilbury LNG facility since 1971, says a recent expansion made possible its two-year contract to ship 53,000 tonnes per year by the summer of 2021 to Chinese LNG distributor Top Speed Energy Corp. The division of St.... Read More

Alberta economy doing better than expected in June forecast, TD economists note

July 16, 2019 CanadianInvestor

CALGARY — Economists at TD Bank say they are looking at upgrading their Alberta growth expectations for 2019 as signs point to a more robust than expected recovery from the effects of extreme heavy oil price weakness in late 2018. The bank suggested in a forecast in June that the province’s economy would grow by a “paltry” 0.5 per cent this year and... Read More

Stocks edge higher in Toronto, U.S. stock markets mixed; loonie creeps up

July 16, 2019 CanadianInvestor

TORONTO — Gains in the industrials sector and materials stocks helped Canada’s main stock index edge higher in late-morning trading, while U.S. stock markets put in a mixed showing. The S&P/TSX composite index was up 3.03 points at 16,513.85. In New York, the Dow Jones industrial average was up 14.42 points at 27,373.58. The S&P 500 index was down 3.11... Read More

Alternative lenders increase share of slowing Canadian mortgage market: CMHC

July 16, 2019 CanadianInvestor

OTTAWA — A new report from the Canada Mortgage and Housing Corporation suggests more people are turning to alternative lenders, while the overall number of new mortgages slowed amid government interventions aimed at cooling the housing market. CMHC estimates alternative lenders held $13 billion to $14 billion of outstanding Canadian mortgages in 2018 — up from $11 billion to $12 billion... Read More

Johnson & Johnson 2Q profit jumps 42% despite lower sales

July 16, 2019 CanadianInvestor

Johnson & Johnson posted slightly lower sales across much of its business in the second quarter, but a big one-time gain and lower spending on marketing and administration boosted its profit a whopping 42 per cent. That blew past Wall Street expectations. The maker of baby shampoo and cancer and immune disorder drugs on Tuesday raised its full-year sales forecast,... Read More

Retail rivals crash Amazon’s Prime Day party

July 16, 2019 CanadianInvestor

NEW YORK — The gravitational pull of Amazon Prime Day is so strong on shoppers it’s benefiting other retailers as well, according to an early analysis from a key data group. On Monday, the first day of its 48-hour sales event, large retailers, those that generated annual revenue of at least a billion dollars, enjoyed a 64% increase in online... Read More

Bank of Canada to take over key interest rate benchmark for financial markets

July 16, 2019 CanadianInvestor

OTTAWA — The Bank of Canada plans to assume responsibility for a key interest rate benchmark for financial markets when enhancements are made to it next year. The central bank says it will take over the administration of the Canadian Overnight Repo Rate Average (CORRA), from financial markets data firm Refinitiv, next year. CORRA is defined by the bank as a... Read More