Canada's main stock market, the Toronto Stock Exchange, lost 90
points Friday as investors and traders appeared to take profits
ahead of the U.S. Federal Open Market Committee meeting on Tuesday
and Wednesday amid uncertainty about when the Fed will end its
US$85 billion bond-buying program.
While some expect it will start sooner rather than later, others
believe recent U.S. economic data hasn't been strong enough for the
Fed to move yet.
Eastern Platinum (ELR.TO) was easily most active with more than
46 million shares traded, three times that of the next most active,
although there was no apparent fresh stock specific news.
Cline Mining Corporation (CMK.TO) was down 75% and hit a record
low of 0.5 cents. Cline announced that it has made an application
to the Toronto Stock Exchange to voluntarily delist its shares from
the exchange. Subject to confirmation from the TSX, Cline expects
that the shares will be delisted from the TSX at the close of
trading on June 21, 2013.
Bombardier Aerospace (BBD-B.TO) today released its annual
20-year forecast for the business and commercial aircraft market
numbers. Shares were down 10 cents. Bombardier said it is
"confident" in the strong, long-term potential of the business
aircraft industry and forecasts a total of 24,000 business jet
deliveries from 2013 to 2032 in the segments in which Bombardier
competes, which represents approximately $650 billion in industry
revenues. Bombardier's Business Aircraft Market Forecast
anticipates 9,800 aircraft deliveries, worth $269 billion, during
the 2013 to 2022 period, and 14,200 aircraft, worth $381 billion,
from 2023 to 2032.
On commodities, gold futures were up 0.73% at US$1,387.80 an
ounce today, and 0.3% on the week. SPDR Gold Trust (
) was up 0.35% at $134.21. Silver for July delivery was up 1.93% at
$22 an ounce, just off its session high of $22.50. iShares Silver
) was up 1.14% at $21.29.
Crude for July delivery was higher, up 1.08% at $97.73 a barrel.
United States Oil Fund LP (
) was up 1.19% at $34.74. Crude-oil futures garnered strength on
renewed supply concerns following the latest news out of war torn
Syria. Late Thursday, the U.S. had said it will arm the opposition
forces in Syria, a move that Russia has criticized Friday. The U.S.
government had said that the Syrian government had used chemical
weapons against the opposition. Investors were also be keeping an
eye on Iran, which is holding its presidential elections
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