Canadian stocks have made at least three attempts to get ahead
today but have fallen back each time and are now little changed
There was early buying optimism after a positive start yesterday
to the U.S. earnings season with Alcoa, and on the domestic front
strong buying of Bombardier (BBD-B.TO). But this optimism has
faded. Bombardier is now up just 1 cent at $3.87, off a day high
Gold is the largest drag among the industry sectors, sliding
nearly 1% as a group, while shares of the influential financial
companies are little changed.
Healthcare stocks are the best performers, aided by a strong
rise for Cangene Corp. (CNJ-TO) after the U.S. Food and Drug
Administration approved its Varizig product for post-exposure
treatment of chickenpox in high risk patient groups. CNJ is up 7.5%
at $1.88, although off a day high $1.96.
In company news, U.S.-traded shares of Shaw Communications Inc.
(SJR-B.TO,SJR) are now little changed at around US$22.84 a share,
having earlier touched a day high $23.09 compared to a 52 week high
$23.55 after the cable and Internet services provider earned C$0.49
a share in Q1, up from a C$0.43 profit during the same quarter last
year. Analysts, on average, were expecting C$0.45 a share,
according to Thomson Reuters. Revenue rose 3% to C$1.32
In economic news, tourism spending in Canada rose 1.0% in Q3
following a 0.1% increase in the previous quarter. Higher tourism
spending by Canadians at home more than offset a decline in
spending by international visitors in Canada, according to the new
report today by StatisticsCanada.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.