TSX closes lower as 8 sector groups lose... Analysts are expecting an interest rate rise next week... BoC aims to encourage women into finance...
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TSX closes lower as 8 sector groups lose
Gains on the main TSX index were limited to energy and financials sector groups Friday as the loonie gained to a 2-year high.
The 8 groups that closed lower were led by a 1.4% slip for healthcare, the only of the losing groups to be more than 1% lower.
Commodities gained with gold supported by a lower pace for US jobs growth; and West Texas crude gaining as some Gulf Coast refineries got back to work.
Wall Street closed higher following the jobs report which saw 156,000 US jobs in July rather than the 180,000 expected. European and most Asian indexes also closed higher.
The S&P/TSX Composite Index closed down 20.27 (0.13%)
The Dow Jones closed up 39.46 (0.18%)
Oil is trending mixed (Brent lower at $52.75, WTI higher at $47.32 at 4.35pm)
Gold is trending higher (1330.70 at 4.35pm)
The loonie is valued at U$0.8074
Analysts are expecting an interest rate rise next week
The Canadian dollar touched 81 cents Friday as analysts talked of the BoC increasing interest rates for the second time this year – as early as next week.
The talk of the markets after the Labour Day weekend will be expectation of a hike. There is now an even chance, with doubt focusing on the risk of a hike while the loonie is rising.
If the BoC does decide to add 25 basis points next week it will put further upward pressure on the loonie, and Scotiabank’s chief foreign exchange analyst Shaun Osborne told CBC News that “I'm not sure the Bank of Canada wants to see that happen too quickly."
BoC aims to encourage women into finance
The Bank of Canada has opened applications for its new initiative to encourage women to consider careers in economics and finance.
The inaugural Master’s Scholarship Award for Women in Economics and Finance also aims to advance women in the Bank in areas where they are under-represented.
Eligible women pursuing a master’s degree in economics or finance at a Canadian university could receive a $10,000 scholarship and an offer of a permanent job offer when they successfully complete their degree.
Gains on the main TSX index were limited to energy and financials sector groups Friday as the loonie gained to a 2-year high.
The 8 groups that closed lower were led by a 1.4% slip for healthcare, the only of the losing groups to be more than 1% lower.
Commodities gained with gold supported by a lower pace for US jobs growth; and West Texas crude gaining as some Gulf Coast refineries got back to work.
Wall Street closed higher following the jobs report which saw 156,000 US jobs in July rather than the 180,000 expected. European and most Asian indexes also closed higher.
The S&P/TSX Composite Index closed down 20.27 (0.13%)
The Dow Jones closed up 39.46 (0.18%)
Oil is trending mixed (Brent lower at $52.75, WTI higher at $47.32 at 4.35pm)
Gold is trending higher (1330.70 at 4.35pm)
The loonie is valued at U$0.8074
Analysts are expecting an interest rate rise next week
The Canadian dollar touched 81 cents Friday as analysts talked of the BoC increasing interest rates for the second time this year – as early as next week.
The talk of the markets after the Labour Day weekend will be expectation of a hike. There is now an even chance, with doubt focusing on the risk of a hike while the loonie is rising.
If the BoC does decide to add 25 basis points next week it will put further upward pressure on the loonie, and Scotiabank’s chief foreign exchange analyst Shaun Osborne told CBC News that “I'm not sure the Bank of Canada wants to see that happen too quickly."
BoC aims to encourage women into finance
The Bank of Canada has opened applications for its new initiative to encourage women to consider careers in economics and finance.
The inaugural Master’s Scholarship Award for Women in Economics and Finance also aims to advance women in the Bank in areas where they are under-represented.
Eligible women pursuing a master’s degree in economics or finance at a Canadian university could receive a $10,000 scholarship and an offer of a permanent job offer when they successfully complete their degree.
