Technology: TSX lower as oil prices drop, global growth worries return - PressFrom - Canada
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TechnologyTSX lower as oil prices drop, global growth worries return

18:01  15 may  2019
18:01  15 may  2019 Source:   reuters.com

Poloz says stimulative interest rates needed

Poloz says stimulative interest rates needed OTTAWA - Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country's recent economic weakness will only be temporary. Poloz, speaking Monday to a business audience in Iqaluit, Nunavut, noted the difficulties related to the late-2018 drop in oil prices, the cooler housing market and ongoing global trade uncertainty. He then argued the data have also shown "many areas of encouraging economic growth.

Futures pointed to a lower open for Canada's main stock index on Friday, as oil prices dropped on global growth worries after China reported weak export data and The Toronto Stock Exchange S&P/ TSX composite index ended 35.56 points, or 0.22 percent lower , at 16,056.51 on Thursday.

Canada's main stock index fell on Thursday, as a drop in oil prices weighed on shares of energy companies and concerns over global economic growth * Global financial markets were roiled by mounting global growth worries , while Wall Street suffered back-to-back losses after the European

TSX lower as oil prices drop, global growth worries return© Reuters/CHRIS HELGREN The Toronto Stock Exchange sing is seen in Toronto

(Reuters) - Canada's main stock index dropped on Wednesday, as energy shares fell due to a drop in oil prices and weak economic data from China and the United States revived fears of slowing global economic growth.

At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was down 36.44 points, or 0.22%, at 16,248.09.

Six of the index's 11 major sectors were lower, led by the energy sector which dropped 0.9%.

Oil prices fell after data showed a surprise rise in U.S. crude inventories and the U.S.-Chinese trade dispute threatened demand, although Middle East tensions capped losses. [O/R]

IMF forecast: Global growth will weaken this year to 3.3 per cent

IMF forecast: Global growth will weaken this year to 3.3 per cent The IMF expects the world economy to grow 3.3% this year, down from 3.6% in 2018. That would match 2016 for the weakest year since 2009. The IMF expects the world economy to grow 3.3% this year, down from 3.6% in 2018. That would match 2016 for the weakest year since 2009. In its previous forecast in January, the IMF had predicted that international growth would reach 3.5% this year. For the United States, IMF economists downgraded their growth forecast for this year to 2.3% from 2.9% in 2018.

Canada's main stock index fell on Thursday, as a drop in oil prices weighed on shares of energy companies and concerns over global economic growth weakened sentiment. * At 9:35 a.m. ET (1435 GMT), the Toronto Stock Exchange 's S&P/ TSX Composite index was down 27.52 points

The growth worries overshadowed the latest signs of a thaw in the U.S.-China trade battle, as The energy sector pushed Canada’s main index lower on Friday, as oil prices declined after China reported slower economic growth , pointing to lower fuel demand from the world’s biggest oil importer.

U.S. crude prices were down 0.8%, while Brent crude lost 0.4%.

Global financial markets, including Wall Street, fell after two of the world's biggest economies reported weak retail sales and industrial data. [MKTS/GLOB] [.N]

Statistics Canada data showed Canada's annual inflation rate edged up to 2.0% in April from 1.9% in March, driven in part by a carbon levy that pushed up gasoline prices in six provinces.

The data weakened the loonies to a six-day low against its U.S. counterpart, and money markets were factoring in a slightly higher chance of an interest rate cut by year end at more than 40 percent.

This pushed the financials sector 0.4% lower.

In a bright spot, the materials sector, which includes precious and base metals miners, added 0.3% as gold steadied amid retreating global stocks. [GOL/]

TSX edges higher as energy stocks track oil gains

TSX edges higher as energy stocks track oil gains TSX edges higher as energy stocks track oil gains

Canada's main stock index dropped for a second day, with oil prices plunging nearly 3 percent after weak China trade data and U.S * Global stock markets started on the back foot after data showed China’s exports tumbled the most in three years in February while imports fell for a third straight month.

(RTTNews) - The Canadian stock market tumbled on Friday, hurt by disappointing data on Canadian retail sales and consumer inflation, global economic slowdown and a sharp drop in crude oil prices . Losses in energy, healthcare, financial and information technology shares led the market down south.

On the TSX, 84 issues were higher, while 143 issues declined for a 1.70-to-1 ratio to the downside, with 13.75 million shares traded.

The largest percentage gainers on the TSX were Boyd Group Income Fund, which jumped 4.4% after reporting quarterly results.

Energy company Baytex Energy Co fell 4.1%, the most on the TSX.

The most heavily traded shares by volume were Aurora Cannabis, Corus Entertainment Inc and Baytex Energy.

The TSX posted seven new 52-week highs and three new lows.

Across all Canadian issues there were 15 new 52-week highs and four new lows, with total volume of 23.27 million shares.

(Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

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TSX falls for second day on U.S.-China trade worries.
TSX falls for second day on U.S.-China trade worries

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