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Closing Bell Toronto stock market ends lower as traders turn negative on

TORONTO — The Toronto stock market moved lower on Tuesday as investors backed away from the optimism that characterized trading earlier in the session.Here are the closing numbersTSX — 12,257.18 -56.36 -0.46%S&P 500 — 13,457.55 -101.37 -0.75%Dow — 13,457.55 -101.37 0.75%Nasdaq — 3,117.73 -43.05 -1.36%The S&P/TSX composite index dropped 56.36 points to 12,257.18. The TSX Venture Exchange fell 20.25 points to 1,313.21.The Canadian dollar was at 101.98 US, off 0.19 of a cent, as the safe-haven greenback lost some ground.Traders had kept stock markets positive throughout much of the morning after U.S. consumer confidence hit its highest level in seven months in September, but comments from a member of the U.S. Federal Reserve appeared to dash the sentiment.Bank of Philadelphia president Charles Plosser questioned the Fed’s latest round of stimulus, suggesting in a speech that it wouldn’t help the economy grow. That opinion seemed enough to tip the scale back towards concern.Wall Street bore the brunt of the decline, with the Dow Jones industrials backed off 101.37 points to 13,457.55. The Nasdaq composite index slid 43.05 points to 3,117.73 and the S&P 500 index was 15.30 points lower to 1,441.59.Caterpillar Inc., the world’s largest maker of construction and mining equipment, added to the eroding sentiment. The company is lowering expectations for its profit in 2015 because of slower-than-expected growth in the global economy.“Our view of the world right now is that we don’t think the markets will be propelled forward in the next month,” said Paul Vaillancourt, vice-president and chief investment officer at Canadian Wealth Management.“We are anticipating a little bit of consolidation after a pretty good run. But having said that … we don’t think we’re going to see a significant sell off.”In commodities, November crude on the New York Mercantile Exchange moved down 56 cents to close at US$91.37 a barrel. The TSX energy sector lost 1.4%.December bullion increased $1.80 to US$1,766.40 an ounce. December copper gained 2.7 cents to US$3.76 a pound.A report from Statistics Canada said retail sales rose 0.7% to $39 billion in July, more than offsetting a decline in June. The increase was largely weighted in higher sales of cars, trucks and auto parts, as well as general merchandise.South of the border, the Conference Board said its consumer confidence index rose to 70.3, up from 61.3 in August — the highest reading since February.And the Standard & Poor’s/Case Shiller index report showed that U.S. home prices increased 1.2% nationally in July compared with the same month last year. Prices also rose in July from June in all 20 cities tracked by the report. It’s the third straight month in which prices rose in every city.In Canada, Forbes & Manhattan Coal Corp. says it’s buying majority stakes in an operating coal mine and an undeveloped anthracite deposit in South Africa from Rio Tinto PLC for about C$52.3 million plus royalties. Its shares were ahead two cents to 67 cents.Shares of Research In Motion lifted 32 cents to $6.50 after the BlackBerry maker gave developers a look at the progress made in developing its new operating system, due to hit the market early next year.In Europe, Spain is due to unveil this week a new series of cost-cutting measures and structural reforms that could pave the way for demand for financial aid from its fellow eurozone countries. But hopes that Madrid will apply for the aid were overcome by concern that it was delaying the move. Spain has been reluctant to ask since such assistance comes with strings attached.Another key issue is whether eurozone countries will grant Greece more time to reach its deficit reduction targets. The country also needs to finalize a package of austerity measures but political leaders are struggling to compromise as popular anger increases.Here’s the news investors were watching today:RIM plans BlackBerry 10 launch on six continents to reach faithfulWhat the world’s 14 most important commodities will doSpain braces for more austerity painFlaherty urges businesses to open wallets, forge partnerships with emerging economiesON DECK WEDNESDAYECONOMIC NEWSUNITED STATES8:30 a.m.New home sales (Aug): Economists expect 2.2% rise CORPORATE NEWSCANADAAGF Management Q3 earnings: Analysts expect 21¢ a share read more

UN and partners launch their largest ever appeal for emergency aid for

“Two-thirds of Palestinians in the West Bank and the Gaza Strip are now living in poverty. Growing numbers of people are unable to cover their daily food needs and agencies report that basic services such as health care and education are deteriorating and set to worsen much further,” UN Humanitarian Coordinator Kevin Kennedy said, noting that children make up about half of the population of some 4 million. The $453.6 million sought by 12 UN agencies together with 14 non-governmental organizations (NGOs) operating in the occupied Palestinian territory for 2007 is only exceeded by the $1.2 billion requested for Sudan and $687 million for the Democratic Republic of the Congo (DRC). The rapid deterioration is linked with the fiscal crisis facing the Palestinian Authority that has been unable to pay its 160,000 staff, who support another 1 million family members. In addition, Palestinians are subject to increasing restrictions on their freedom of movement through Israeli security measures, limiting their access to jobs, markets, health services and schools. Most of the funding will go towards addressing poverty through emergency employment programmes, and expanding food and agricultural aid. Agencies will also support the Palestinian institutions that deliver health, education and psycho-social services. “Humanitarian assistance can cushion a deteriorating situation, but it ultimately cannot stop the decline,” David Shearer, head of the UN Office for the Coordination of Humanitarian Affairs (OCHA) said. “Ultimately only a political settlement can generate a significant improvement. We are anxious to help the most needy maintain their dignity and have income. But the humanitarian community is not in a position to provide the full range services offered by the Palestinian Authority, and has no ambitions to do so,” he added. Karen Koning AbuZayd, Commissioner-General of the UN Relief and Works Agency (UNRWA), which has been caring for Palestinian refugees since 1949, said the loss of life, livelihood and security in the territory is most distressing. “It is increasingly difficult for people to cope in such a volatile and unpredictable environment,” she added. “We must go beyond this crisis to be able to help people regain the hope and optimism required for building a stable future. Providing the support outlined in this appeal will be a large step in the right direction.” After Hamas, which is dedicated Israel’s destruction, won elections in January, Israel stopped handing over tax and customs revenues it collects on behalf of the Palestinian Authority, and international donors suspended direct aid, calling on Hamas to commit to non-violence, recognize Israel and accept previously signed agreements between Israel and the Palestinians. read more