FTSE 100 ends lower as resource stocks, banks retrace gains
U.K. stocks finished the week on a downbeat note, unable to shake off global equity weakness Friday as investors brushed off a solid GDP growth report for the nation and sold bank and resource stocks that had performed well Thursday. How are markets performing? The FTSE 100 index UKX, -0.49% closed 0.5% lower at 7,105.34, […]
Gold declines to settle with a 2% weekly loss as dollar extends post-Fed advance
Silver futures fall more than 4% for the week Gold and silver prices dropped Friday, prompting the yellow metal to suffer a 2% weekly loss, nicked by a firmer dollar that has been bolstered by the Federal Reserve’s adherence to an interest rate-tightening cycle. Sharp losses for stocks for the session, which are partly tracking […]
Keystone XL stalls, again
The Canadian proponent of the $10-billion Keystone XL crude pipeline says it remains committed to the project despite a Montana judge’s ruling that it must pass a further environmental review. The company has received the judge’s ruling and is reviewing it, said TransCanada Corp. spokesman Terry Cunha in a brief email on Friday. U.S. District […]
Interfor shares down
Interfor Corp.’s share price was trading down more than 10 per cent Friday as the company missed earnings expectations amid volatile lumber prices. “The dominating feature of the third quarter this year was the drop in lumber prices that began in late May and early June and continued unabated through the third quarter and into […]
Oil drops for 10th day
Crude oil prices dipped to near a nine-month low as they fell for a tenth consecutive day, potentially having an impact on the Bank of Canada interest rate decision next month. West Texas Intermediate dipped to a low of US$59.26 before closing off 83 cents or 1.4 per cent to US$59.84. Since its peak last […]
Production to stay in Cda
The head of the B.C. company that scooped up Bombardier Inc.’s Q400 turboprop business has pledged to keep all manufacturing already in Canada within the country. The Q400 series is a “natural fit” for Longview Aviation Capital, chief executive David Curtis said in an interview. “We like to say, ‘It’s the same colour of paint.’ […]