Daily Wrap-up: TSX back in positive territory as global concern eases

TSX back in positive territory as global concern eases
The Toronto Stock Exchange ended the week with triple-digit gains following the large losses in the previous session. Concern over the Greek debt and China’s stock sell-off reduced as Greece looked more likely to achieve a deal and Beijing’s support measures saw investors return to equities. Better-then-expected Canadian jobs data helped sentiment while markets here and in New York weighed Fed chair Janet Yellen’s signal of an interest rate rise this year. Asian markets closed their session largely higher although Tokyo closed with losses. European markets closed higher ahead of Sunday’s Eurozone summit; the German DAX was up almost 3 per cent.

The S&P/TSX Composite Index closed up 132.6 (0.93 per cent)
The NYSE closed higher
Oil is trending flat (Brent $58.59, WTI $52.73 at 4.25pm)
Gold is trending higher
The loonie is valued at U$0.7881 (4.25pm)
 
Jobs data exceeds forecasts
Canada’s jobs data exceeded analysts’ expectations Friday with 6,400 jobs lost in June compared to the 10,000 that has been predicted. The jobless rate held at 6.8 per cent, where it has been for most of this year. Statistics Canada reported that 71,200 part time jobs were lost but there were 64,800 full time jobs created. There were fewer jobs in New Brunswick and Quebec; Newfoundland & Labrador and BC had more jobs; Ontario was little changed. There was also no real change in numbers for Alberta but despite concerns for the province’s economy year-over-year there are now about 1 per cent more people working than there were a year ago. 
 
Canadians less stressed about debt despite rise
There may be more household debt in Canada but most of us aren’t worrying about it. A new survey from BMO shows that 46 per cent of respondents are carrying “some stress” about their debt but that is down from 54 per cent in a similar survey last year and 57 per cent in 2013. Almost two-thirds said interest rates rising by 2 percentage points would make them stressed while 46 per cent are intending to take on extra debt in the next 12 months despite the likelihood of higher rates.
 
NDP government could be bad news for investors says report
If the NDP form the next federal government it could be bad for investments. That’s according to a report from Macquarie which says there is a 60 per cent chance of a national NDP administration and that banking, airlines and oil & gas stocks could suffer while renewables and some other industries may benefit.