Daily Wrap-up: TSX remains near 1-year high, oil down more than 1 per cent

Daily Wrap-up: TSX remains near 1-year high, oil down more than 1 per cent

Daily Wrap-up: TSX remains near 1-year high, oil down more than 1 per cent TSX remains near 1-year high, oil down more than 1 per cent
There was little change for the main index of the Toronto Stock Exchange Friday but it remained near a 1-year high and ended the week 0.8 per cent higher.

Telecoms and banks were among the gainers while resources firms were under pressure and Valeant Pharmaceutical dropped more than 3 per cent as US regulators announce concern over one of its eye products.

Wall Street pulled back from losses in the previous session with the S&P 500 closing at a record high.

Asian markets closed mostly lower as investors became sceptical about recent news reports of a large increase in stimulus for Japan.

European indexes closed mixed on data releases and earnings. The markets closed before details emerged of a shooting at German shopping mall which killed 8 and sparked speculation that it was a terrorist attack.
 
The S&P/TSX Composite Index closed up 34.83 (0.24 per cent)
The Dow Jones closed up 53.62 (0.29 per cent)
Oil is trending lower (Brent $45.70, WTI $44.19 at 4.55pm)
Gold is trending lower (1322.20 at 4.55pm)
The loonie is valued at U$0.7606
 
Consumer prices flat, retail prices higher
The Consumer Price Index was up 1.5 per cent in the 12 months to June, unchanged from the gain in May, Statistics Canada said Friday.
The cost of shelter increased 1.6 per cent (1.4 per cent in May) while food prices gained at a slower pace (1.3 per cent) than May (1.8 per cent) and fuel oil prices also declined at a slower pace (13.2 per cent v. 17.3 per cent). 

StatsCan also reported that retail prices for May gained 0.2 per cent to $44.3 billion. More than half of retail trade was higher, driven by food & beverages and gasoline station sales; motor vehicle and parts dealers’ sales were lower.

The agency also assessed the impact of the Fort McMurray wildfires with a survey of Alberta retailers. The data reveals only a small decline in sales as a result of the fires with just 6.8 per cent of retailers reporting an effect on their business activity.