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January 14, 2019 9:57 PM TSX up slightly, US stock markets move lower in late-morning trading; Loonie down

Canada’s main stock index inched forward Monday, while major indices south of the border fell slightly during a relatively flat day for the markets. “The real headliner was the data we got out of China,” said Craig Fehr, a Canadian markets strategist for Edward Jones. China reported that its exports fell last month. Chinese exports to America fell 3.5 per cent to US$40.3 billion 518

January 3, 2019 11:22 PM Apple bombshell shakes financial markets to the core

While Apple’s stunning announcement this week shook financial markets, its cause could shake the Canadian economy. As one of the world’s biggest tech companies announced Wednesday it was lowering its profit estimates, Apple CEO Tim Cook suggested a slowing Chinese economy — resulting in lower iPhone sales — was largely to blame. Stock markets around 164

December 31, 2018 9:52 PM Canadian stocks close out worst year since 2008 with a gain

Canadian stocks rose on the final trading day of the year but it wasn’t enough to prevent them from posting their worst annual performance since 2008. The S&P/TSX Composite Index gained 0.7 per cent to 14,322.86 on thin New Year’s Eve volume after U.S. President Donald Trump reported “big progress” in trade talks with China. The benchmark lost 5.8 per cent in December 205

December 24, 2018 3:27 PM Toronto stock index, loonie start week moderately lower as U.S. markets plunge

The S&P/TSX composite index was down 45.80 points at 13,889.64 after the first 90 minutes of a shortened trading day. The Toronto Stock Exchange closes at 1 p.m. and reopens Thursday after a two-day holiday. In New York, the Dow Jones industrial average was down 309.15 points at 22,136.22. The S&P 500 index was down 19.05 points at 2,397.83, while the Nasdaq 136

December 7, 2018 2:31 PM Gains abroad extend the record earnings streak at Canadian banks

Canada’s eight big banks extended their record earnings streak this year, posting a 7.5 per cent jump in annual profit fuelled by operations outside their home turf. Net income for the companies totalled C$45.9 billion ($34.3 billion U.S.) in the fiscal year ended Oct. 31. Toronto-Dominion Bank and Bank of Montreal profited from their U.S. consumer-lending 194

December 5, 2018 4:42 PM Canada’s main stock index up sharply with U.S. markets closed, loonie falls

Canada’s main stock index was up sharply Wednesday morning, with the energy and mining sectors leading the advance. The S&P/TSX composite index was up 157.68 points at 15,221.27, making up for some of the 211-point drop it experienced Tuesday. In New York, stock markets were closed Wednesday to mark the death of former president George H.W. Bush last week. The Canadian 137

November 29, 2018 1:41 PM Toronto-Dominion’s U.S. lender outshines domestic banking gains

Toronto-Dominion had a 44 per cent jump in earnings from the U.S. retail segment in the fiscal fourth quarter, helped by improving net interest margins, record contributions from a stake in the TD Ameritrade discount brokerage and the U.S. tax overhaul. Profit from U.S. retail rose to $1.11 billion, outperforming growth in Canada and its wholesale banking 137

November 29, 2018 1:02 PM CIBC's U.S. foray cuts domestic reliance even as earnings miss

Chief Executive Officer Victor Dodig had big plans after closing the $5 billion takeover of PrivateBank last year, setting a goal of getting 17 per cent of earnings from U.S. businesses, including capital markets, by 2020. Canada’s fifth-largest lender by assets gets a greater share of earnings from domestic banking than any of its larger peers, which 126

November 22, 2018 3:17 PM Canadian banks using in-house hackers to improve and test cybersecurity

New regulations that require Canadian businesses to alert their customers about privacy breaches or face hefty fines took effect at the beginning of this month. In May, the Bank of Montreal and the Canadian Imperial Bank of Commerce’s Simplii Financial digital banking brand said thousands of their customers may have had their personal and financial data compromised 172

November 19, 2018 2:10 PM Here’s how to trade Canadian stocks hit by tax-loss selling

The Canadian S&P TSX is down more than 6% year-to-date and has created opportunities for investors to consider several stocks that have probably been hit by tax-loss selling, according to Canaccord Genuity’s Canadian Research team. The companies on the list are mainly energy and materials stocks, since the main sectors contributing to the year-to-date 118