News Column

Markets modestly higher after short week

July 4, 2014



Lassonde in focus





WEEKLY MARKET WRAP UP



Industrials and financials led the way to a modest advance Friday afternoon on the Toronto stock market at the end of a positive week.

The S&P/TSX composite index remained positive 7.85 points to end a short week at 15,214.96

The Canadian dollar was down 0.19 to 93.84 cents U.S.

The industrials sector advanced as Bombardier gained three cents to $3.85

Financials also provided lift, with Royal Bank taking on 12 cents to $77.23, and TD moved higher by 15 cents to $55.27

Commodity prices were mixed in electronic trading on the New York Mercantile Exchange with August bullion 70 cents higher to $1,321.30 U.S. an ounce. The gold sector gained, though Barrick Gold docked a penny to $19.32.

The base metals sector declined, while September copper was off a penny at $3.27 U.S. a pound. Teck Resources gained 18 cents to $25.74.

The energy sector declined as August crude moved 29 cents lower to $103.77 U.S. a barrel. Imperial Oil slid 30 cents to $57.14

On the corporate front, Lassonde Industries Inc. is acquiring U.S. branded juice company Apple & Eve for $150 million U.S. in a bid to strengthen its presence in the United States. Lassonde shares ran ahead $9.14 or 8.3% to $119.00.

Shaw Media is making plans to launch a national TV news channel called Global News 1. In filings to the CRTC, the media division of Shaw Communications, which operates Global Television, says it wants to launch a "hybrid local/national" English-language news channel. Shaw shares were six cents lower to $27.72.

Several cars in a Canadian National Railway freight train have derailed northwest of Edmonton. Two of the five cars were carrying crude oil. There were no injuries and no fire when the cars left the tracks early Friday morning. CN shares gained 44 cents to $70.04.

Driven by brisk activity in the oil, gas and infrastructure sectors, the total value of M&A deals in Canada jumped by 37% to $89.5 billion in the first half of 2014, according to data released by Thomson Reuters on Thursday.

ON BAYSTREET

The TSX Venture Exchange dropped 0.03 points to 1,037.76.

In all, nine of the 14 Toronto subgroups ended the day above ground, with industrials up 0.6%, information technology ahead 0.5% and consumer staples better by 0.4%.

The five laggards were weighed by metals and mining and health-care, each down 0.4%, and energy, off 0.3%.

ON WALLSTREET

U.S. markets are off today for the Independence Day holiday


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Baystreet Stock Market Update (Canada)


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