Oil, jobs help TSX to positive end to the week... Canadian labour market flat, unemployment down... Canadians keep buying cars...
The TSX has ended lower this evening after energy stocks declined with the price of oil plunging to US$74.39 a barrel for Brent crude in New York while West Canada Select ended at $59.83 although it has at times been lower in the past year.
The low price of oil and the squeeze it places on the finances of Canada’s energy companies may provide a perfect opportunity for pension funds to make long term investments in the industry.
Toronto-Dominion Bank will repay at least $13.5 million to customers who were overcharged for fees on some investments.
BMO’s latest housing outlook is predicting a drop in prices in Toronto and Montreal…but not yet.
Blackberry launched its new enterprise-focused software BES 12 or Blackberry Enterprise Solution today and also introduced a new partner.
Electronic money has potential risk for the whole financial system.
Asian markets stay strong in face of weak Chinese data; Europe sees modest increases... Hasbro in talks with DreamWorks?... J.C Penney cuts losses on better margins... Cyber Monday’s day could be numbered... Comcast CEO insists Tim Warner deal is ‘full steam ahead’... Consumers to get more protection for prepaid cards...
Energy stocks led the way to gains on the TSX today, recovering with gains of 1.3 per cent after recent sell offs with analysts suggesting the oil sector is robust and able to ride the waves of lower prices.
Ottawa has warned that the budget surplus will be lower than expected next year as oil revenue is lower and the cost of the income-splitting and other tax cuts.
A survey by IPG Mediabrands predicts that $13.4 billion will be spent by Canadians this coming Friday and next Monday.