TSX slightly lower as sector groups end split... Canadian investors snap up $13.2 billion of foreign securities... CIBC breaks with President’s Choice, launches Simplii...
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TSX slightly lower as sector groups end split
The ten sector groups of the main TSX index ended the session split Wednesday with the weaker half weighed down by a 2.3% drop for healthcare while materials led the gains for the better performers.
Investors considered the potential impact of the NAFTA talks which began in Washington.
Oil prices dropped during the session as data showed a smaller US stockpile than expected. Gold prices gained as President Trump disbanded two White House initiatives.
Wall Street closed slightly higher and there were positive ends to sessions in Europe and most Asian markets except Shanghai and Tokyo.
The S&P/TSX Composite Index closed down 15.63 (0.10%)
The Dow Jones closed up 25.88 (0.12%)
Oil is trending lower (Brent $50.30, WTI $46.76 at 4.20pm)
Gold is trending higher (1287.70 at 4.20pm)
The loonie is valued at U$0.7911
Canadian investors snap up $13.2 billion of foreign securities
June was a big month for Canadians acquiring foreign securities with $13.2 billion invested following $4.3 billion in May.
Statistics Canada reported Wednesday that Canadian investment in foreign equities totalled $15.3 billion and targeted both US and non-US foreign shares while holdings of foreign debt securities were reduced by $2.1 billion in June.
Meanwhile foreign investors reduced their holdings of Canadian securities by $923 million in June, following a $29.4 billion investment in May.
CIBC breaks with President’s Choice, launches Simplii
CIBC and Presidents Choice bank have agreed to end their 20-year relationship.
President’s Choice, a wholly owned subsidiary of Loblaw will focus on payment and loyalty and continue to offer its MasterCard and PC Plus products.
CIBC will launch its own digital banking brand, Simplii Financial, in November 2017 which will replace the current President’s Choice Financial brand banking products which include daily banking, mortgage and loan solutions.
"Simplii will deliver straightforward, no-fee everyday banking and great rates for the growing number of Canadians who prefer to do their banking by telephone, online, or through mobile and other digital channels,” said Mike Boluch, Executive Vice-President, Direct Banking, Innovation & Payments, CIBC.
The ten sector groups of the main TSX index ended the session split Wednesday with the weaker half weighed down by a 2.3% drop for healthcare while materials led the gains for the better performers.
Investors considered the potential impact of the NAFTA talks which began in Washington.
Oil prices dropped during the session as data showed a smaller US stockpile than expected. Gold prices gained as President Trump disbanded two White House initiatives.
Wall Street closed slightly higher and there were positive ends to sessions in Europe and most Asian markets except Shanghai and Tokyo.
The S&P/TSX Composite Index closed down 15.63 (0.10%)
The Dow Jones closed up 25.88 (0.12%)
Oil is trending lower (Brent $50.30, WTI $46.76 at 4.20pm)
Gold is trending higher (1287.70 at 4.20pm)
The loonie is valued at U$0.7911
Canadian investors snap up $13.2 billion of foreign securities
June was a big month for Canadians acquiring foreign securities with $13.2 billion invested following $4.3 billion in May.
Statistics Canada reported Wednesday that Canadian investment in foreign equities totalled $15.3 billion and targeted both US and non-US foreign shares while holdings of foreign debt securities were reduced by $2.1 billion in June.
Meanwhile foreign investors reduced their holdings of Canadian securities by $923 million in June, following a $29.4 billion investment in May.
CIBC breaks with President’s Choice, launches Simplii
CIBC and Presidents Choice bank have agreed to end their 20-year relationship.
President’s Choice, a wholly owned subsidiary of Loblaw will focus on payment and loyalty and continue to offer its MasterCard and PC Plus products.
CIBC will launch its own digital banking brand, Simplii Financial, in November 2017 which will replace the current President’s Choice Financial brand banking products which include daily banking, mortgage and loan solutions.
"Simplii will deliver straightforward, no-fee everyday banking and great rates for the growing number of Canadians who prefer to do their banking by telephone, online, or through mobile and other digital channels,” said Mike Boluch, Executive Vice-President, Direct Banking, Innovation & Payments, CIBC.
