TSX closes flat despite oil, earnings
The Toronto Stock Exchange ended Thursday’s session flat as a drop in oil prices, mixed global corporate earnings and a dovish tone on stimulus from Europe’s central bank subdued sentiment.
Healthcare, which has been the laggard over the last few sessions, was the top performer on the main TSX index with materials, industrials, IT and financials all higher.
Wall Street closed lower amid a near-3 per cent drop for oil and mixed economic data. Corporate earnings were also mixed.
Europe closed higher despite the ECB not revealing plans for further stimulus. The bank also held interest rates at zero. Asian markets are trending higher.
The S&P/TSX Composite Index closed up 7.78 (0.05 per cent)
The Dow Jones closed down 40.27 (0.22 per cent)
Oil is trending lower (Brent $51.38, WTI $50.31 at 4.45pm)
Gold is trending lower (1266.70 at 4.45pm)
The loonie is valued at U$0.7562
CRA claws back $240 million in real estate tax
The Canada Revenue Agency’s probe into real estate tax evasion in British Columbia and Ontario has resulted in $240 million being recovered. Most of the revenue came from Ontario through more than 13,000 audits, mostly relating to new housing and rental property rebates.
Penalties imposed by the CRA in relation to its investigations amounted to $12.5 million, the largest of which was near $2.5 million.
Employment insurance down
The number of regular beneficiaries of employment insurance was down 3 per cent in August compared to the previous month to a total of 563,000. The year-over-year drop was 4.4 per cent.
The figures take into account the changes to rules introduced in July, which resulted in a 5 per cent increase in claimants.
EI claims were also lower, by 18.4 per cent in August compared to July, again partly as a result of the rule changes.