Daily Wrap-Up: TSX owners own shares drop on missed earnings

Daily Wrap-Up: TSX owners own shares drop on missed earnings

Daily Wrap-Up: TSX owners own shares drop on missed earnings TSX owners own shares drop on missed earnings
TMX Group, the owners of the Toronto Stock Exchange, saw its own shares drop 8 per cent Wednesday as it reported profits below expectation for the first quarter of 2017.

Fortunately, there were better performers with energy firms gaining as data revealed a big drop in US oil stockpiles. Gold producers also gained as spot gold prices rose following President Trump’s sacking of the FBI director James Comey.

The main TSX index closed higher as 6 of its 10 sector groups gained.

Wall Street closed mixed with the Dow lower and the S&P500 and Nasdaq higher. European indexes closed mostly higher while Asian bourses were mixed.

The S&P/TSX Composite Index closed up 64.01 (0.41 per cent)
The Dow Jones closed down 33.52 (0.16 per cent)
Oil is trending higher (Brent $50.25, WTI $47.37 at 4.10pm)
Gold is trending higher (1219.50 at 4.10pm)
The loonie is valued at U$0.7317

Halifax media firm pays $345m for Peanuts
DHX Media, an entertainment firm based in Halifax, is to acquire the rights to the Peanuts and Strawberry Shortcake brands for $345 million.

The deal has been given the backing of cartoon creator Charles Shultz’s widow who said that DHX seemed “the right fit” for her late husband’s creation.

Eighty per cent of the Peanuts rights and all of the rights to Strawberry Shortcake, created by Muriel Fahrion, are currently owned by Iconix Brand Group. After the sale, the Shultz family will retain a 20 per cent stake of the rights to Peanuts.

Kinder Morgan Canada aims for $1.75 billion with IPO
The Canadian arm of Kinder Morgan Inc. is planning an IPO on the TSX with the aim of raising $1.75 billion.

The company’s regulatory filing Wednesday reveals that the firm is planning to release between 79.5 million and 92.1 million restricted voting shares for somewhere in the $19-21 per share range.

Bank of Canada to open its doors
The Bank of Canada will join Doors Open Ottawa 2017, a chance for the public to explore the city’s culture and history for free.

The central bank will participate on June 4, when the doors will be open for tours of its newly renovated building on Wellington Street including the atrium and Wellington lobby.

Visitors will be able to find out how the renewed facility supports the work of the central bank including updated security. Participation is on a first-come, first-served basis with 30-minute tours running from 10am-4pm.