Element Financial in focus
Equity markets in
The S&P/TSX composite index ditched 0.68 points to begin Tuesday at 14,680.76.
The Canadian dollar dropped
Traders also took in a strong earnings report from retailer Hudson's Bay Company
HBC posted first-quarter net earnings from continuing operations of
Same stores sales, which are stores that have been open for at least a year, were up 2.8% year-over-year. HBC shares let go of
In other corporate developments, Element Financial Corp. will pay
PHH Arval had about
Eight of the 14 Toronto subgroups were lower at the outset, with metals and mining down 1.2%, global base metals off 0.6%, and health-care fading 0.5%
The half-dozen gainers were led by consumer staples, up 0.4%, while telecoms and consumer discretionaries each gained 0.3%.
All three major indices opened moderately lower after the S&P and Dow set fresh records Monday.
The Dow Jones Industrial Average was down 32.43 points at the start of business Tuesday to 16,711.20
The S&P 500 hesitated 1.99 points to 1,922.98, but the NASDAQ composite index dipped 0.14 points to 4,237.06
Hillshire Brands shares surged nearly 9% after the open after the food company's board of directors authorized takeover discussions with Pilgrim's Pride and Tyson Foods, which are in a bidding war to buy Hillshire. Both Pilgrim's and Tyson shares opened modestly lower.
Krispy Kreme shares dropped like dough into a deep fryer after reporting earnings that were in line with expectations but sales that were much lower than
Shares in Google were weak, opening down more than 1%, after the
Apple failed to excite investors after unveiling new products at its
Dollar General shares opened higher despite the retailer reported a modest quarterly gain in sales and profit that failed to meet expectations. Investment bank
Quiksilver shares fell as much as 45% in early trading after a disastrous quarterly earnings report that showed the surf and beach apparel company losing much more money than analysts anticipated.
Prices for 10-year U.S. Treasuries dipped again, raising yields to 2.56% from Monday's 2.53%. Treasury prices and yields move in opposite directions
Oil prices fell
Gold prices slipped
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