Canada's main stock market, the Toronto Stock Exchange, hit a
new record high of 15,256.36 late Thursday morning but then ran out
of puff - just as the U.S. markets were closing in preparation for
Friday's Independence Day celebrations - and succumbed to some
profit taking following five days of successive gains. It closed
just below 15,210. But it might have been worse for the overall
index except for the release of positive economic data both sides
of the border that seemed to boost sentiment.
Canada's merchandise trade deficit narrowed in May to $152
million, about half of what some had forecast. And in the U.S.,
non-farm payrolls increased by a higher than expected 288,000
versus a forecast 215,000.
Among sectors, sectors were mixed with Mining, Industrials and
Of commodities, gold futures ended lower, but above day lows on
some profit taking after recent gains and pressured by the U.S.
jobs numbers. Bloomberg said West Texas Intermediate crude fell for
a sixth day, capping its longest retreat in more than two years on
easing supply concerns in Iraq and Libya. Brent also declined.
One of the stories of the day involved BlackBerry (BB.TO, BBRY),
which is selling its research and development department in Germany
to Volkswagen Infotainment, a subsidiary of the automaker that
makes interactive technology built into vehicle dashboards,
according to a Canadian press report carried on the Globe and Mail
website Thursday. The companies say the deal will shift about 200
BlackBerry employees in Bochum, Germany, to Volkswagen, according
to the report. BB lost 0.9% on the TSX.