Tim Hortons proves star
The S&P/TSX composite index gained 14.38 points to close at 15,202.09.
The Canadian dollar gained
The TSX gold sector was up as nervous investors pushed December bullion ahead. Barrick Gold shares were up
The energy sector declined as
The base metals sector was down while September copper dropped
Earnings news supported the TSX as Tim Hortons reported that same-store sales grew 2.6% in
Molson Coors Brewing Co. beat expectations as quarterly net earnings increased 9.5% to
On the economic front, Statistics Canada reported this morning that merchandise exports rose 1.1% in June, while imports declined 1.8%. So,
Eight of the 14 Toronto subgroups were down on the day, with health-care down 0.8%, telecoms sliding 0.7%, and metals and mining off 0.4%.
The half-dozen gainers were led by gold, up 1.6%, materials, ahead 0.9%, and consumer discretionaries, up 0.5%
Stocks inched just fractionally higher on Wednesday, shaking off early jitters caused by more trouble overseas.
The Dow Jones Industrials finished higher 13.87 points to 16,443.34
The S&P 500 eked up 0.03 points to 1,920.24. The NASDAQ composite gained 2.21 points to 4,355.05.
Shares of Walgreen plummeted 14% after the company confirmed that it's taking full control of the
Time Warner plunged over 13% after
Time Warner shares remained under heavy pressure even after logging earnings that crushed expectations amid continued HBO strength.
A tie-up between Sprint and T-Mobile is also now off the table. Shares of both companies tumbled on the news. That could leave French telecom company Iliad as the frontrunner to buy T-Mobile.
Groupon investors are holding a fire sale. The daily deals site plummeted 13% after alarming investors with a wider quarterly loss than expected and a gloomy outlook for the rest of the summer.
On a more positive note, AOL popped 7.5% as
Investors also chugged shares of Molson Coors Brewing. The brewer sold less beer during the second quarter but grew profits by hiking prices.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.47% from Tuesday's 2.48%. Treasury prices and yields move in opposite directions.
Oil prices fell back
Gold prices spiked
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