Canadian stocks are well off their initial lows and are within
range of break even point again as crude oil has cut its earlier
declines nearly in half and gold prices are now turning positive.
Mining stocks are the best performers, while shares of healthcare
companies have also turned positive in recent minutes.
Here's where the primary market gauges stand this morning:
- S&P/TSX Composite index down 36.60 (-0.32%) at
- S&P/TSX Venture Composite Index down 7.09 (-0.55%) at
Disappointing trade data out of Germany today and uncertain
prospects over how Spain's banking crisis may be resolved has
pressured global markets throughout much of the day. Closer to
home, Canadian employment was unchanged in May following two months
of strong gains. The nation's unemployment rate remained unchanged
Compared with year-ago levels, Canadian employment is up 1.2%
with 203,000 more people working. Nearly all of the growth was in
full-time jobs, rising by 192,000. Total number of hours worked
rose 1.3% over the same period.
In company news, shares of Ivanhoe Mines (
) are down about 0.3% in morning trading after the company filed
final prospectus for a rights offering for all existing
shareholders to purchase a proportional number of shares to their
current stakes in the copper and gold miner.
The offering is expected to raise about US$1.8 billion in gross
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