Canada's main stock market, the Toronto Stock Exchange, closed
little changed around 15,395 Thursday after some profit taking
dragged it back from 15,421.39 hit this afternoon.
Capping gains and most actively traded was Bombardier Inc
(BBD-B.TO), which lost 1% with near 10 million shares changing
hands. Its chief operating officer and president of the aerospace
division Guy Hachey left the company abruptly Wednesday as part of
sweeping changes to its organizational structure, moves that also
involve dividing the train maker in to four separate divisions and
the loss of 1,800 jobs. This comes amid continued concerns in the
market about delays to its CSeries program.
In line with the Bombardier losses, the Industrials sector was
lower, as was Energy.
But most of the sectors were up, with Info Tech leading the way.
It was up 1.4% as BlackBerry (BB.TO, BBRY) climbed 5.8% on media
reports that said the smartphone maker is working on some
partnerships that would rival Apple and IBM's venture into mobile
The mining sector gained near 0.5%, driven by better than
expected results from the likes of PotashCorp (POT.TO) . Meanwhile,
Telecom rose 0.2% after Rogers Communications (RCI-B.TO) jumped 1%
as profit matched estimates.
hit a four week low Thursday as investors prefer to invest in
equitites these days. Oil futures were down in line with gasoline
on rising supplies. Bloomberg said copper futures rose the most in
three weeks as a gauge of manufacturing climbed to an 18-month high
in China, the world's top consumer of industrial metals.
Among the influential companies to report Thursday was Potash
Corp. of Saskatchewan Inc., (POT.TO). Its shares gained 0.3%, but
were off early day highs after the fertilizer giant raised its
full-year earnings forecast and said demand in Latin America and
China will be higher than expected. Profit will be $1.70 to $1.90 a
share, Potash said, compared with earlier guidance of $1.50 to
$1.80. Shipments could rise to as much as 58 million metric tons,
up from 57 million. Q2 net income came in at $472 million or $0.56
cents a share, down from $643 million or $0.73 cents a share in Q2
2013. However, earnings beat the forecasts. At last look on Capital
IQ forecasts available through Bloomberg, the average forecast of
21 analysts was for EPS of $0.45.
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