Canada's main stock market, the Toronto Stock Exchange, steadied
after losing nearly 170 points on Tuesday, today closing up 16
points, led by energy stocks on higher oil prices amid talk of the
U.S. being involved in a military strike against Syria. But the
index closed 70 points off midday session highs.
Gold was higher too today, albeit off session highs on some late
profit-taking after an earlier run up on safe-haven buying.
Perhaps, reflecting the nervousness in the markets about a Syria
strike, gold stocks - which made up the first four most active
stocks on the TSX - were mixed.
Much of the focus remained on the banks, with eight of them in
total reporting results this week. National Bank (NA.TO) today
lodged new year highs as it followed on from Bank of Montreal
(BMO.TO) and Bank of Nova Scotia (BNS.TO) on Tuesday in today
beating Q3 profit forecasts. Excluding specified items, the third
quarter net income was a record amount of $391 million, up 11% from
$353 million and the quarter's diluted earnings per share stood at
$2.22, up 12% from $1.98. This easily beat forecasts for $2.06.
Also in the news, BlackBerry Ltd. (BB.TO, BBRY) gained 3% at
$10.85, but off a day high $11.20. It is considering spinning off
its messaging service into a separate unit, the Wall Street Journal
said, quoting people familiar with the matter. The subsidiary would
be called BBM Inc., the newspaper said.
And in the news was Bombardier (BBD-B.TO), which rose nearly 3%.
Bombardier and Rostekhnologii, a state corporation controlled by
the Russian Federation, today announced that they signed a series
of preliminary agreements that include a letter of intent for the
sale of 50 Q400 NextGen aircraft; and a Market Development
Agreement reached with Rostec and its aircraft leasing subsidiary,
Avia Capital Services, that will provide an opportunity to place at
least 50 additional Q400 NextGen aircraft in the region. The
parties also concluded a memorandum of understanding (
) to validate the opportunity to set up a Q400 NextGen final
assembly line in Russia.
The LOI, Market Development Agreement and MOU were signed at the
2013 International Aviation and Space Salon, known as the MAKS 2013
Air Show, held at Moscow's Zhukovsky Airport. Should definitive
agreements be reached, based on the list price of the Q400 NextGen
airliner, a firm-order contract for 100 Q400 NextGen aircraft would
be valued at approximately US$3.39 billion.
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