TSX closes flat despite gains for energy, materials... Nortel creditors could soon see some cash... Oil could hit $65 Bonterra chief says...
.jpg)
TSX closes flat despite gains for energy, materials
The main TSX index closed just 6 points higher Friday despite gains for 6 sector groups including energy and materials. Healthcare was the leading sector but with a less than 0.5 per cent rise.
Oil prices recovered some lost ground following the post-OPEC slump while gold gained as political uncertainty continued along with a weakened greenback.
Wall Street closed mixed along with Europe and Asia.
The S&P/TSX Composite Index closed up 6.20 (0.04 per cent)
The Dow Jones closed down 2.67 (0.01 per cent)
Oil is trending higher (Brent $52.08, WTI $49.73 at 4.20pm)
Gold is trending lower (1266.90 at 4.20pm)
The loonie is valued at U$0.7434
Nortel creditors could soon see some cash
Creditors of Nortel Canada could begin to receive some of the $4 billion in reimbursements agreed earlier this year as part of its bankruptcy agreement.
The company’s former employees, suppliers and bond holders have waited 8 years for a payout and now should start to receive funds in June or July, CBC News reports.
The distribution, following the sale of the firm’s assets, will be up to 49 cents for those owed mainly in Canadian dollars and up to 45 cents in US dollars for those owed in other currencies.
Oil could hit $65 Bonterra chief says
The chief executive of Calgary-based Bonterra Energy says there could be better days ahead for oil prices.
George Fink told BNN that prices could reach $65 a barrel in the first half of 2018 due to increased demand from emerging economies. It could even be the end of 2017 that prices improve.
Fink cited India’s growing middle class as an example of a developing economy which he does not expect to soften any time soon.
The main TSX index closed just 6 points higher Friday despite gains for 6 sector groups including energy and materials. Healthcare was the leading sector but with a less than 0.5 per cent rise.
Oil prices recovered some lost ground following the post-OPEC slump while gold gained as political uncertainty continued along with a weakened greenback.
Wall Street closed mixed along with Europe and Asia.
The S&P/TSX Composite Index closed up 6.20 (0.04 per cent)
The Dow Jones closed down 2.67 (0.01 per cent)
Oil is trending higher (Brent $52.08, WTI $49.73 at 4.20pm)
Gold is trending lower (1266.90 at 4.20pm)
The loonie is valued at U$0.7434
Nortel creditors could soon see some cash
Creditors of Nortel Canada could begin to receive some of the $4 billion in reimbursements agreed earlier this year as part of its bankruptcy agreement.
The company’s former employees, suppliers and bond holders have waited 8 years for a payout and now should start to receive funds in June or July, CBC News reports.
The distribution, following the sale of the firm’s assets, will be up to 49 cents for those owed mainly in Canadian dollars and up to 45 cents in US dollars for those owed in other currencies.
Oil could hit $65 Bonterra chief says
The chief executive of Calgary-based Bonterra Energy says there could be better days ahead for oil prices.
George Fink told BNN that prices could reach $65 a barrel in the first half of 2018 due to increased demand from emerging economies. It could even be the end of 2017 that prices improve.
Fink cited India’s growing middle class as an example of a developing economy which he does not expect to soften any time soon.
