TSX closes flat, oil near 6-month high
Oil prices hit $46.70 as the markets closed Thursday with mixed data; higher demand expected by the International Energy Agency weighed against Canadian output increasing after the wildfires.
The TSX’s main index closed flat along with Wall Street.
Elsewhere, markets were generally lower with oil and regional earnings in focus Asia and Europe.
The S&P/TSX Composite Index closed down 0.41 (0.00 per cent)
The Dow Jones closed up 9.38 (0.05 per cent)
Oil is trending higher (Brent $47.93, WTI $46.45 at 5.05pm)
Gold is trending lower (1264.90 at 5.05pm)
The loonie is valued at U$0.7789
Fewer jobs available as vacancy rate drops
Statistics Canada reported the latest jobs data Thursday with 353,000 job vacancies in the fourth quarter with the vacancy rate at 2.3 per cent. British Columbia had the highest job vacancy rate at 2.8 per cent, followed by Nunavut, the Northwest Territories, and Yukon, which all had job vacancy rates of 2.6 per cent in the fourth quarter. Quebec posted the lowest rate at 1.6 per cent. Sales and service positions had the largest number of vacancies.
No data on companies buying real estate
A registry of companies that have bought or are intending to buy foreign real estate has been embraced by a number of countries including the UK and France, but Canada will not be part of it.
The Globe and Mail reports that 12 countries are joining a global initiative to gauge the extent of companies’ foreign property portfolios following a meeting Thursday. The aim is to curb corruption and money laundering.
Canada will be part of a new international anti-corruption centre based in London.
Auto sales set for slowdown but not yet
Canadian auto sales are set for a slower pace, but not until next year. TD Bank says that 2016 should see record sales of 1.92 million; last year’s total was 1.898 million. New car sales are being driven by low interest rates but expectations are for sales to ease in 2017.