TSX loses steam as gold prices drag... BoC’s Poloz says rate rise impact will be carefully monitored... Securities regulators issue reminder on false applications...
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TSX loses steam as gold prices drag
The materials sector was the largest drag on the main TSX index Thursday with gold prices dropping after Fed chair Janet Yellen’s testimony to Congress. Energy and healthcare were the only sectors to gain.
The financial sector was down although Manulife was one of the notable performers as it said it was considering an IPO for its John Hancock business unit.
Wall Street performed better with the Dow closing at a new record high with retail stocks leading. Most European and Asian indexes also gained.
The S&P/TSX Composite Index closed down 8.99 (0.06 per cent)
The Dow Jones closed up 20.95 (0.10 per cent)
Oil is trending higher (Brent $48.41, WTI $46.07 at 4.45pm)
Gold is trending lower (1217.50 at 4.45pm)
The loonie is valued at U$0.7857
BoC’s Poloz says rate rise impact will be carefully monitored
The governor of the Bank of Canada says that it will monitor the impact of the interest rate rise with regards all areas of the economy.
Speaking exclusively to CTV News, Stephen Poloz said that it is not just people with mortgages that are impacted but those with assets that have been subjected to low interest rates for many years.
He said there was no definite path for rates, highlighting that the conditions would be assessed before each potential rise. These conditions will include oil prices and NAFTA.
"What we've got to do now is monitor how the economy responds to a higher rate of interest," the governor said.
Securities regulators issue reminder on false applications
Individuals and firms applying for registration with securities regulators have been reminded about the consequences of false or misleading information.
The Canadian Securities Administrators (CSA) says that it receives applications with omitted, vague or untrue information and warns that this can result in cancellation of registration, penalties and/or criminal charges.
“The CSA will continue to hold individuals and firms accountable for false or misleading applications,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Applications for registration must be completed with truth and candour, and we expect firms to have robust policies and procedures in place to ensure this is the case for any applications they sponsor.”
The materials sector was the largest drag on the main TSX index Thursday with gold prices dropping after Fed chair Janet Yellen’s testimony to Congress. Energy and healthcare were the only sectors to gain.
The financial sector was down although Manulife was one of the notable performers as it said it was considering an IPO for its John Hancock business unit.
Wall Street performed better with the Dow closing at a new record high with retail stocks leading. Most European and Asian indexes also gained.
The S&P/TSX Composite Index closed down 8.99 (0.06 per cent)
The Dow Jones closed up 20.95 (0.10 per cent)
Oil is trending higher (Brent $48.41, WTI $46.07 at 4.45pm)
Gold is trending lower (1217.50 at 4.45pm)
The loonie is valued at U$0.7857
BoC’s Poloz says rate rise impact will be carefully monitored
The governor of the Bank of Canada says that it will monitor the impact of the interest rate rise with regards all areas of the economy.
Speaking exclusively to CTV News, Stephen Poloz said that it is not just people with mortgages that are impacted but those with assets that have been subjected to low interest rates for many years.
He said there was no definite path for rates, highlighting that the conditions would be assessed before each potential rise. These conditions will include oil prices and NAFTA.
"What we've got to do now is monitor how the economy responds to a higher rate of interest," the governor said.
Securities regulators issue reminder on false applications
Individuals and firms applying for registration with securities regulators have been reminded about the consequences of false or misleading information.
The Canadian Securities Administrators (CSA) says that it receives applications with omitted, vague or untrue information and warns that this can result in cancellation of registration, penalties and/or criminal charges.
“The CSA will continue to hold individuals and firms accountable for false or misleading applications,” said Louis Morisset, CSA Chair and President and CEO of the Autorité des marchés financiers. “Applications for registration must be completed with truth and candour, and we expect firms to have robust policies and procedures in place to ensure this is the case for any applications they sponsor.”
