TSX sharply lower; New York markets give back chunk of Thursday gains


TORONTO – The Toronto stock exchange finished with a triple-digit loss Friday amid weak commodity prices along with a disappointing read on retail sales that underlined the still-fragile nature of Canada\’s economic recovery. The S&P/TSX composite index closed down 117.52 points at 14,653.12 as oil and metals prices retreated. Meanwhile, Statistics Canada said retail sales fell 0.1 per cent to ...

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Five scenarios for Greece in the coming days


Talks have divided between the Greek government and its creditors and financial markets are panicking about Greece’s fate. Whether Greece leaves the eurozone or not, it is going to a world of pain Chidley: The economic crisis in Greece will deepen, leading to more social unrest. But will the Greeks\’ pain become Europe\’s – and also the world\’s? Continue reading ...

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U.S. markets close higher, but energy stocks fall and Greece hopes waiver


U.S. stocks closed higher on Wednesday but were down from earlier highs as energy stocks declined and Greece\’s debt crisis showed no clear indications of resolution. The benchmark S&P 500\’s energy sector was dragged down through the biggest slide in oil prices since April after traders were surprised at a report that showed U.S. crude stockpiles rose the very first ...

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AGF results get lukewarm response from analysts


AGF Management Ltd’s latest earnings results showed more improvement in the level of net redemptions at the beleaguered mutual fund giant, but nonetheless not enough to reproduce much investor confidence in the stock’s prospects moving forward. “We have lowered our valuation multiples to reflect the challenges of AGF\’s current environment,” said GMP Securities analyst Stephen Boland inside a note to ...

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Why Canada’s economy is ‘one number removed from the unthinkable’


Canada’s economic performance in April, set to be sold by Statistics Canada , will be probably the most watched data points this season. The Bank of Canada is hoping following a dismal first quarter, the data will show the economy rebounded in April.?To date, the indicators paint a confusing picture. Manufacturing and retail sales were unexpectedly weak throughout the month, ...

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Alamos Gold completes AuRico takeover, but risk remains


Alamos Gold Inc. a week ago completed its purchase of AuRico Gold Inc., an offer that makes it a mid-tier gold producer. Alamos presently has much greater scale, which should help it withstand a rough gold price environment. An optimistic re-rating from investors can also be possible. However, the combined company faces numerous challenges, TD Securities analyst Steven Green said. ...

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Greece stocks and bonds are so bad not even vulture funds will touch them


Greece has become too distressed for distressed-debt funds. Greece on the floor: Six indications of an economy on the ropes As Greece reels, life is constantly on the move forward within the economically unstable country. Listed here are examples of some of the major issues Greece is dealing with That\’s the kind of slump that will usually attract investors trying ...

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Will China’s stock market crash scare consumers from spending?


Policymakers in Beijing have spent much of the past few years trying to unlock the untapped potential of Chinese consumers given that they account for only 36 per cent of China’s gross domestic product, compared with the United States\’ roughly 66 per cent. But the collapse in Chinese stock prices, which have plummeted nearly 30 per cent since their mid-June ...

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How is Prem Watsa’s bet on Greece panning out? At the moment, not that great


Prem Watsa has made a lot of good bets since starting their own investment firm more than three decades ago. Fairfax Financial Ltd chief Prem Watsa tells his \’Horatio Alger\’ story Horatio Alger, the 19th century American author, was renowned for his novels for kids – Ragged Dick, Tattered Tom, Luck and Pluck, and Strive and Succeed – that shared ...

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Canadian stocks to wobble after Bank of Canada rate cut


Canadian bank stocks might experience some temporary weakness following the Bank of Canada announced of another 25 basis point rate cut on Wednesday. John Aiken, analyst at Barclays Capital Markets, said share prices for the “Big 6” underperformed the broader market after the BoC’s surprise 25 basis point rate cut in January, with valuations dropping seven per cent on average ...

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