Consumer confidence rises on optimism of personal finances
The weekly Bloomberg Nanos Canadian Confidence Index has seen a rise as sentiment increases in personal finances, the economy and real estate prices.
Daily Market Update
Global markets decline as further cracks appear in China... Retail figures down for Thanksgiving weekend... Oil price could fall to $40 according to some forecasters... Americans spending more on autos...
TSX extends losses as oil prices plunge further
On a day when Canada’s GDP figures showed better than expected growth for the economy the Toronto Stock Exchange should have been surging but energy stocks are once again under pressure.
GDP growth better than forecast for Q3
Real GDP rose 0.7 per cent in the third quarter, following a 0.9 per cent gain in the second quarter, StatsCan reported today. On a monthly basis, real GDP by industry increased 0.4 per cent in September.
Federal government announces surplus for September
In September 2013 Ottawa’s deficit was $3.8 billion but a year later Finance Canada has just announced a small surplus of $379 million.
Canada’s oil producers face up to the challenges
With oil now at a four year low Canada’s energy companies must re-evaluate their position. We’re already producing the world’s cheapest oil and now firms will be faced with lower profits and cash for capital projects will be greatly scaled back.
BCE to purchase Glentel for $594 million
Telecoms giant BCE is to buy mobile phone retailer Glentel for $594 million it announced today.
Mortgage broker offers Black Friday deal at 2.05 per cent
Among the many Black Friday bargains on offer today, a mortgage broker announced a 24 hour promotion on home loans with a rate of just 2.59 per cent for a 5-year-fixed rate mortgage and 2.05 per cent for a variable rate.
OPEC says no to cut; TSX plunges
The OPEC cartel’s decision to not cut production of oil from the current 30 million barrels a day has had a predictable effect on Canadian energy stocks and the wider TSX.
No large gains for payroll figures
Average weekly earnings of non-farm payroll employees were $942 in September, little changed from $939 the previous month.