North American stock markets almost recover from last week’s big losses

North American stock markets almost recover from last week’s big losses
TORONTO — North American stock indexes have almost recovered from last week’s steep losses after moving higher midweek on some strong earnings results. The S&P/TSX composite index closed up 95.92 points at 16,309.23, about 30 points shy of where it was before last week’s major drops. In New York, the Dow Jones industrial average was up 240.29 points at 26,202.73. The S&P 500 index... Read More

Most actively traded companies on the TSX

Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Wednesday on the Toronto Stock Exchange: Toronto Stock Exchange (16,309.23, up 95.92 points). Manulife Financial Corp. (TSX:MFC). Financials. Up 39 cents, or 1.79 per cent, to $22.23 on 9.4 million shares. Largo Resources Ltd. (TSX:LGO). Materials. Up two cents, or 1.42 per cent, to $1.43 on 6.6 million shares. Enbridge Inc. (TSX:ENB).... Read More

Retail giants face pressure to change chemical-coated receipt paper

Retail giants face pressure to change chemical-coated receipt paper
TORONTO — Some of Canada’s biggest retailers say they’ve started testing alternatives to receipt paper that’s coated in potentially dangerous chemicals, as pressure mounts for them to phase it out by the end of this year. A conglomerate of health, labour and environmental groups has sent a letter to 13 retailers, including major grocers and fast-food chains, asking them to take... Read More

Ontario Teachers earns 6.3 per cent return on investments in first half of 2019

Ontario Teachers earns 6.3 per cent return on investments in first half of 2019
TORONTO — Ontario Teachers’ Pension Plan says it earned a 6.3 per cent return on its investments in the first six months of the year, raising its net assets to $201.4 billion. The gain increased the pension fund’s net assets by $10.3 billion as of June 30 after delivering contributions across every asset class in its portfolio, led by fixed income which accounts for... Read More

Shaw, Videotron join industry concern over CRTC’s new wholesale broadband rates

Shaw, Videotron join industry concern over CRTC’s new wholesale broadband rates
TORONTO — Shaw Communications Inc. and Videotron join major Canadian telecom companies that have expressed concern over the CRTC’s decision to lower the prices that smaller internet providers have to pay them to use their networks. Calgary-based Shaw says there will be long-term negative consequences from the decision to dramatically reduce the federally regulated wholesale broadband prices, while Quebecor subsidiary Videotron has expressed concern about the change. Bell... Read More

TSX, U.S. markets move higher ahead of July Fed minutes; Loonie higher

TSX, U.S. markets move higher ahead of July Fed minutes; Loonie higher
TORONTO — North American stock indexes moved higher Wednesday morning as investors await interest rate news from the U.S. Federal Reserve. The S&P/TSX composite index was up 59.39 points at 16,272.70. In New York, the Dow Jones industrial average was up 221.34 points at 26,183.78. The S&P 500 index was up 20.35 points at 2,920.86, while the Nasdaq composite was up 67 points at... Read More

US home sales rose 2.5% in July, aided by low mortgage rates

US home sales rose 2.5% in July, aided by low mortgage rates
WASHINGTON — U.S. home sales increased 2.5% in July, a sign that lower mortgage rates have produced a spurt of home-buying. The National Association of Realtors says homes sold last month at a seasonally adjusted annualized rate of 5.42 million units. Average interest rates on 30-year mortgages have fallen to 3.60%, the lowest in nearly three years. Cheaper borrowing costs... Read More

Pembina buying Kinder Morgan Canada and U.S. portion of Cochin pipeline

Pembina buying Kinder Morgan Canada and U.S. portion of Cochin pipeline
CALGARY — Pembina Pipeline Corp. has signed a deal to buy Kinder Morgan Canada Ltd. and the U.S. portion of the Cochin pipeline system in an agreement it valued at a total of about $4.35 billion. Upon closing of the deal with Kinder Morgan Inc., Pembina says it will increase is monthly dividend by a penny per share to 21 cents.... Read More

Inflation hits Bank of Canada 2% target for second straight month

Inflation hits Bank of Canada 2% target for second straight month
OTTAWA — The Canadian annual inflation rate came in at two per cent in July to hit the Bank of Canada’s ideal target for a second straight month. Statistics Canada says consumers paid less last month for gasoline, internet services and traveller accommodation compared with a year earlier. However, the latest consumer price index showed higher costs, year-over-year, for auto insurance, mortgage... Read More

Royal Bank hikes dividend as Q3 net income rises to $3.3B, but misses estimates

Royal Bank hikes dividend as Q3 net income rises to $3.3B, but misses estimates
TORONTO — Royal Bank of Canada increased its dividend as its third-quarter profit rose five per cent to $3.3 billion, but the lender’s latest earnings missed estimates as challenging market conditions weighed on its capital markets division. The Toronto-based lender said Wednesday it will now pay a quarterly dividend of $1.05 per share, up three cents or three per cent. The increased payment to... Read More