Markets

Canada Stocks Make It Five Days of Gains In A Row; Bombardier In The News

Canada stocks made it five days of gains in a row, closing down xx points or y% at 14,800 on Thursday due to. The European Central Bank moved to deal with the threat of deflation and try to stimulate an economic recovery in its region.

Among sectors, Industrials were the best performing, but sectors were mixed, with Telecom capping gains.

Of commodities, gold recorded its biggest one day gain in nearly three weeks on safe haven buying as market watchers appeared uncertain about how they should react to news of the European Central Bank cutting interest rates to record lows and unveiling a package of new stimulus measures. Meanwhile, West Texas Intermediate crude for July delivery eased 0.1% to $102.58 a barrel.

Bombardier Inc. may resume flight tests in the next few weeks for its troubled CSeries jet after a preliminary analysis of last month's engine failure found the fault to be minor.

Canada's weaker than expected PMI report did little to help stock prices early on. Canada's Ivey PMI fell to 48.2 in May (median 58.0) from 54.1 in April.

Momentum on the TSX has turned positive with the MACD (moving average convergence divergence) index generating a buy signal. This occurs when the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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