canadian stocks end lower despite positive manufacturing data
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Canadian stocks end lower despite positive manufacturing data`

Arab Today, arab today

Arab Today, arab today Canadian stocks end lower despite positive manufacturing data`

Canadian stocks.
Toronto - XINHUA

Canada's main stock market in Toronto ended an inconsistent week down despite positive July Manufacturing data as the health care and energy sectors slipped.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index dropped 56.02 points, or 0.39 percent, to close at 14,447.65 points. Eight of the TSX index's ten sub-sectors retreated during the trading day.

Earlier in the day, Statistics Canada released the results of their monthly manufacturing survey. The report containing July 2016 data indicated a 0.1 percent increase in sales with the primary metal (2.9 percent), petroleum and coal (2.5 percent) and food (1.9 percent) industries driving the increase.

Survey respondents were also asked for a third consecutive month whether the Fort McMurray wildfire in May had any effect on operations. 34 percent of the respondents that answered were still affected, down from 38 percent in June and 40 percent in May.

Dina Ignjatovic, Economist at TD Bank believes that the resumption of oil production in Fort McMurray will boost the economy in the near future.

"Oil sands production was essentially restored through the end of July, with petroleum and coal manufacturing likely to show further strength in the coming months as refining activity resumes fully," said Ignjatovic.

"We expect manufacturing volumes to remain strong in the coming months, helping to lift overall economic growth in the second half of the year and into 2017."

Meanwhile, oil prices continued to slide, with U.S. light sweet crude for October delivery falling 0.67 U.S. dollars to 43.91 dollars a barrel in New York. Crude oil has slipped 7.79 percent in the last eight days.

TSX Energy sector as a whole retreated 0.47 percent on the day, led by Calgary-based Crescent Point Energy Corp. falling 3.03 percent to 16.62 Canadian dollars (12.58 U.S. dollars) a share.

Health care was hit the hardest on Friday, dipping 1.57 percent. Pharmaceutical firm Concordia International Corp. saw shares plummet 18.63 percent to 7.12 Canadian dollars (5.39 U.S. dollars) after the proposal of new legislation that would prevent drug makers from charging exorbitant prices in United Kingdom.

The Canadian dollar fell to 0.7567 U.S. dollars, compared with Thursday's closing rate of 0.7602 U.S. dollars.

Source : XINHUA

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

canadian stocks end lower despite positive manufacturing data canadian stocks end lower despite positive manufacturing data

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

canadian stocks end lower despite positive manufacturing data canadian stocks end lower despite positive manufacturing data

 



GMT 07:48 2017 Thursday ,16 March

Ashrawi calls for immediate uncinditional

GMT 10:18 2017 Thursday ,28 September

Westwood aims to topple big names at British Masters

GMT 23:13 2017 Tuesday ,14 November

Australians vote in favour of gay marriage

GMT 23:49 2016 Saturday ,30 April

April 20 - May 20

GMT 02:47 2017 Tuesday ,11 July

Deported saudi blogger faces blasphemy charge

GMT 05:34 2017 Tuesday ,10 October

Frankfurt stock market squares off against London

GMT 22:10 2017 Friday ,31 March

April 20 - May 20

GMT 20:54 2016 Monday ,21 November

Sarkozy Admits Defeat in French Presidential Race
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday