TSX closes flat as financials, gold weighs... Former finance minister criticizes Ottawa over Home Capital... Three provinces may escape US lumber probe...
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TSX closes flat as financials, gold weighs
Financials and materials were weaker Monday as gold prices slipped and some finance shares moderated. Energy closed flat on uncertainty in the oil markets.
Healthcare led gains for the main TSX index with renewed confidence in Valeant adding 8 per cent to its shares. The overall index closed flat.
Wall Street was mixed with the Dow and S&P gaining while there was a drop for the Nasdaq. European and most Asian markets closed higher.
The S&P/TSX Composite Index closed down 3.54 (0.02 per cent)
The Dow Jones closed 14.79 (0.07 per cent)
Oil is trending higher (Brent $45.87, WTI $43.40 at 4.35pm)
Gold is trending lower (1244.40 at 4.35pm)
The loonie is valued at U$0.7547
Former finance minister criticizes Ottawa over Home Capital
The federal government should have done more to reassure investors as concern grew about Home Capital deposits according to a former finance minister.
Joe Oliver said Monday that the message that those with less than $100,000 deposited with Home Capital are protected by the Canada Deposit Insurance Corporation was “not conveyed at all.”
“I think messages of calm based on the facts are important in a situation like that when you have a loss of investor confidence that may be partly rational, partly irrational,” he told BNN.
Home Capital reported Monday that aggregate available liquidity and credit capacity stood at approximately $1.36 billion including the undrawn amount of $350 million under the Company’s $2.0 billion credit facility.
Three provinces may escape US lumber probe
Softwood lumber producers in three provinces are set to be excluded from the US Commerce Department’s probe into the market.
The US claims that Canada’s producers are unfairly subsidized but its preliminary decision is that those in Newfoundland and Labrador, Nova Scotia and Prince Edward Island should not be included in that investigation.
It will continue to collect duties from the three until it makes a final decision on the matter.
Financials and materials were weaker Monday as gold prices slipped and some finance shares moderated. Energy closed flat on uncertainty in the oil markets.
Healthcare led gains for the main TSX index with renewed confidence in Valeant adding 8 per cent to its shares. The overall index closed flat.
Wall Street was mixed with the Dow and S&P gaining while there was a drop for the Nasdaq. European and most Asian markets closed higher.
The S&P/TSX Composite Index closed down 3.54 (0.02 per cent)
The Dow Jones closed 14.79 (0.07 per cent)
Oil is trending higher (Brent $45.87, WTI $43.40 at 4.35pm)
Gold is trending lower (1244.40 at 4.35pm)
The loonie is valued at U$0.7547
Former finance minister criticizes Ottawa over Home Capital
The federal government should have done more to reassure investors as concern grew about Home Capital deposits according to a former finance minister.
Joe Oliver said Monday that the message that those with less than $100,000 deposited with Home Capital are protected by the Canada Deposit Insurance Corporation was “not conveyed at all.”
“I think messages of calm based on the facts are important in a situation like that when you have a loss of investor confidence that may be partly rational, partly irrational,” he told BNN.
Home Capital reported Monday that aggregate available liquidity and credit capacity stood at approximately $1.36 billion including the undrawn amount of $350 million under the Company’s $2.0 billion credit facility.
Three provinces may escape US lumber probe
Softwood lumber producers in three provinces are set to be excluded from the US Commerce Department’s probe into the market.
The US claims that Canada’s producers are unfairly subsidized but its preliminary decision is that those in Newfoundland and Labrador, Nova Scotia and Prince Edward Island should not be included in that investigation.
It will continue to collect duties from the three until it makes a final decision on the matter.
