Today In The Markets
|
| TSX |
11,781.04 |
-82.46 |
 |
|
| TSXV |
1,185.68 |
-4.88 |
|
|
| DJIA |
13,175.64 |
+7.04 |
 |
|
| NASDAQ |
3,011.25 |
-4.61 |
|
|
| S&P 500 |
1,402.22 |
+0.87 |
|
|
Shrugging off investor caution, U.S. stocks extended their winning streak into day four.
But despite strong financial results from BCE Inc. (TSX: T.BCE, Stock Forum), Canadian stocks closed in negative territory, weighed down by weaker energy, financial and mining stocks. The TSX Composite was down 82.46 to 11,781.09, while the TSX Venture eased 4.88 to 1,185.68.
BCE reported net earnings attributable to common shareholders of $773 million, up 31% from $590 million last year. Earnings per share of $1 per share and adjusted EPS of $1.02 were up 31% and 18.6% respectively, compared to 76 cents and 86 cents in the year ago period.
Moving stocks include Avion Gold Corp. (TSX: T.AVR, Stock Forum), which rose 21% on news that the company has agreed to be bought by Endeavour Mining Corp. (TSX: T.EDV, Stock Forum) in an all-stock deal worth $389 million.
Please click here for the complete U.S. and Canadian market summaries.
Today on Stockhouse
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Matt Badiali looks at why new U.S. oil reserve data will shock the world.
Martin Hutchinson points to the pitfalls of investing in stocks with high dividend yields.
Dr. Steve Sjuggerud takes a closer look at why Kurt Wulff is a fan of Statoil.
Top Bullboards post: You know, I wouldn't mind if they picked up Volta as well... not at this SP, as others have said, they need to wait for their SP to recover to the $2.50 - $3.00 range at a minimum, however as it stands, the new EDV has significant and impactful growth prospects, however they are all pretty low CAPEX... i.e. they can pretty easily fund all new developments from internal cash flow, which should be in the $200 - $300 million range after the acquisition of Avion Gold Corp. (TSX: T.AVR, Stock Forum) writes elmothefearless in the Endeavour Mining Corp. (TSX: T.EDV, Stock Forum) board.
Top Bullboard:Intertainment Media Inc. (TSX: V.INT, Stock Forum) received the highest number of reads and posts.
Top blog: Ravine416 says central bankers’ remarks have set the direction of the indices again, providing corporates with what seems like an unlimited supply of sand ($) for playing with all the toyes (like ah….derivatives) in the exclusive members only sandboxes. Have you ever wondered why there would be circuit breakers for downside risks and no similar circuit breakers for upside risks? Ravine416 was writing in the Central Banks blog.
Word on Wall Street
“We’re seeing a lot of indication that things are not as bad as we thought they were, but the question is, how good are they? We’ve had a pretty strong market rally for simply going from bad to less bad. If it’s actually getting good, then we need to be prepared to put some money to work, but it seems like it is too early,” said Bruce McCain, chief investment strategist at Key Private Bank during an interview with MarketWatch.