TSX maps global equity sentiment to close higher
Global equities were broadly higher Thursday as markets reacted to the latest Fed interest rate decision which lowered the greenback and gave a lift to commodities.
The main TSX index closed higher as energy firms were boosted by higher oil prices, which were further buoyed by a larger-than-expected draw on US stockpiles. Utilities and industrials also saw large gains but all of the main sectors increased.
Wall Street also closed higher along with markets in Europe and Asia.
The S&P/TSX Composite Index closed up 86.36 (0.59 per cent)
The Dow Jones closed up 98.76 (0.54 per cent)
Oil is trending higher (Brent $ 47.41 , WTI $ 46.08 at 5.30 pm)
Gold is trending higher ( 1340.70 at 5.30 pm)
The loonie is valued at U$0.7664
Brookfield takes 11 per cent PSG stake
The private equity division of Brookfield Asset Management has acquired almost 11 per cent of Performance Sports Group. The sportswear firm which has crippling debts, is currently considering turnaround options which may include selling some parts of the business.
The Globe and Mail reports that Brookfield has acquired 4.9 million shares since August 26. No comment has been given by the asset manager.
Employment Insurance beneficiaries rises 4.4 per cent as law changes
There was a larger-than-usual rise in employment insurance beneficiaries due to legislative changes Statistics Canada said Thursday.
The 4.4 per cent rise to 575,200 regular beneficiaries in July compared to the previous month were due to changes introduced in many parts of Canada during the month which meant that recipients received additional payments.
The changes to legislation also meant a 33.4 per cent rise in claimants year-over-year to 307,600.