Canada's main stock market, the Toronto Stock Exchange, opened
around 100 points down from Wednesday's close and, after
fluctuating within 50 points both above and below its opening
level, it ended the day back more or less where it started - down
94 points. This was the first fall for the TSX in five days.
The losses reflected those for many other international stock
markets amid uncertainty about when the U.S. Federal Reserve will
end its stimulus program. Poor economic data out of China and
Europe also weighed. China factory activity was down for the first
time in seven months in May while the euro zone economy looks set
to contract again in this second quarter.
On the domestic front, Toronto-Dominion Bank (TD.TO) lost 0.5%
as it kick started the banks' earnings season by missing Q2
expectations for EPS of $1.91, although by only a cent. Earnings
continue with National Bank (NA.TO) Friday, and it is expected to
Gold added 1.8% to settle at US$1,391.80 per ounce. Gold futures
are seeing upside momentum in today's session boosted by a
declining greenback, which made the commodity more affordable for
holders of international currencies.
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