TSX closes higher despite widespread losses... Industrial product, raw materials price indexes lower... HBC investor could oust board without action...
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TSX closes higher despite widespread losses
Losses for 8 of the main TSX index’s 10 sector groups could have meant an overall loss but the heavily-weighted financials sector along with industrials closed higher and meant a slight gain for the index.
Commodities remained strong Monday with gold ending the session flat, weaker than most other metals; oil saw a near-1% rise to push US crude above the $50 mark, joining the Brent international benchmark.
Wall Street closed mixed with the Dow gaining while the S&P500 and Nasdaq slipped. Most European and Asian indexes closed lower.
The S&P/TSX Composite Index closed up 15.22 (0.10%)
The Dow Jones closed up 60.81 (0.28%)
Oil is trending higher (Brent $52.62, WTI $50.18 at 4.50pm)
Gold is trending higher (1275.70 at 4.50pm)
The loonie is valued at U$0.8018
Industrial product, raw materials price indexes lower
Canada’s Industrial Product Price Index fell 1% in June as energy and petroleum product prices moved lower. Statistics Canada reported Monday that 16 of the index’s 21 major commodity groups declined while 5 were higher. Over a 12-month period the index was up 3.3%, down from the 5.2% increase in May.
The Raw Materials Price Index was also lower, down 3.7% due to the decline in energy and petroleum products decline. It was the largest monthly decline since December 2015. The 12-month figures show a 2.2% rise, slipping from 8.4% in May.
HBC investor could oust board without action
Activist investors repeated calls Monday for Hudson’s Bay Co. to sell its real estate portfolio and may push for boardroom changes if action isn’t taken.
Land & Buildings which holds around 5% of HBC stock wants the company to focus on its Canadian heritage, sell at least one of its European operations, cut the size of Saks 5th Avenue, and realise some of the value of real estate holdings.
Without the changes, the investor may call for a special shareholders’ meeting with a view to board changes.
Losses for 8 of the main TSX index’s 10 sector groups could have meant an overall loss but the heavily-weighted financials sector along with industrials closed higher and meant a slight gain for the index.
Commodities remained strong Monday with gold ending the session flat, weaker than most other metals; oil saw a near-1% rise to push US crude above the $50 mark, joining the Brent international benchmark.
Wall Street closed mixed with the Dow gaining while the S&P500 and Nasdaq slipped. Most European and Asian indexes closed lower.
The S&P/TSX Composite Index closed up 15.22 (0.10%)
The Dow Jones closed up 60.81 (0.28%)
Oil is trending higher (Brent $52.62, WTI $50.18 at 4.50pm)
Gold is trending higher (1275.70 at 4.50pm)
The loonie is valued at U$0.8018
Industrial product, raw materials price indexes lower
Canada’s Industrial Product Price Index fell 1% in June as energy and petroleum product prices moved lower. Statistics Canada reported Monday that 16 of the index’s 21 major commodity groups declined while 5 were higher. Over a 12-month period the index was up 3.3%, down from the 5.2% increase in May.
The Raw Materials Price Index was also lower, down 3.7% due to the decline in energy and petroleum products decline. It was the largest monthly decline since December 2015. The 12-month figures show a 2.2% rise, slipping from 8.4% in May.
HBC investor could oust board without action
Activist investors repeated calls Monday for Hudson’s Bay Co. to sell its real estate portfolio and may push for boardroom changes if action isn’t taken.
Land & Buildings which holds around 5% of HBC stock wants the company to focus on its Canadian heritage, sell at least one of its European operations, cut the size of Saks 5th Avenue, and realise some of the value of real estate holdings.
Without the changes, the investor may call for a special shareholders’ meeting with a view to board changes.
