Tag: Jemina

Closing Bell TSX closes little changed in wake of nuclear deal with

TORONTO — The Toronto stock market closed little changed Monday as energy prices and stocks declined further after Iran and world powers arrived at an agreement about Iran’s nuclear program on the weekend.Here are the closing numbersTSX — 13,472.22 -6.12 -0.05%S&P 500 — 1,802.48 -2.28 -0.13%Dow — 16,072.54 +7.77 0.05%Nasdaq — 3,994.57 +2.92 0.07%The deal will allow Iran to keep the central elements of its uranium program while calling for it reduce enrichment to a level lower than what is needed for nuclear arms.The S&P/TSX composite index closed down 6.12 points to 13,472.22, with further pressure coming from mining stocks as gold prices fell following the announcement of the Iranian deal.“(Otherwise), any time you can remove a little bit of that geopolitical risk premium, it serves to bolster confidence a bit,” said Craig Fehr, Canadian markets specialist at Edward Jones in St. Louis.The Canadian dollar and other commodity-related currencies were lower Monday with the loonie losing 0.22 of a cent to 94.8 cents US.U.S. indexes lost early momentum but the Dow industrials added 7.77 points to 16,072.54 on top of its record performance last week while the S&P 500 drifted 2.28 points lower to 1,802.48. The Nasdaq edged up 2.92 points to 3,994.57 after earlier pushing through the 4,000-threshold for the first time since September 2000.Beyond Iran, attention is focused on the end of the week when investors get an indication of the success of the unofficial start of the U.S. holiday shopping season, otherwise known as Black Friday, so-called as it marks the start of the period when retailers make most of their money for the year.But prior to that, trading will likely start to wind down somewhat ahead of American Thanksgiving on Thursday, when U.S. markets will be closed. New York markets are open for a half-session on Friday.Also in the background are concerns that the U.S. Federal Reserve may decide to start cutting back on its US$85 of monthly bond purchases if economic performance allows. Those purchases have kept long-term rates low and encouraged investors to pile into the equity markets, resulting in the S&P 500 charging ahead 27% year to date.However, an increasing number of investors believe that stocks have run their course for 2013 and are due for a pullback soon.“I would like to see this market take a breather,” said Jim Lauder, a fund manager for Wells Fargo Advantage Dow Jones Target Date Funds in New York.The energy sector was down almost 1%. The January crude contract on the New York Mercantile Exchange fell 75 cents to US$94.09 a barrel, even though the agreement does not loosen sanctions on Iran’s oil exports.The deal with Tehran announced on the weekend raises the possibility that a more comprehensive agreement would eventually allow Iran to restore oil production to pre-sanctions levels. That could add one million barrels of oil a day to world markets, which would be enough to meet the entire global growth in demand for 2014 projected by the International Energy Agency.Suncor Energy (TSX:SU) gave back 72 cents to C$37.24.The base metals sector shed about 1% with December copper up a penny at US$3.22 a pound. Teck Resources (TSX:TCK.B) lost 43 cents to C$26.07.The TSX gold sector was down well over 1% during the session but ended up flat as increased risk appetite pushed December bullion down $2.90 to US$1,241.20 an ounce. Agnico Eagle Mines (TSX:AEM) gained 48 cents to $28.04 while Detour Gold Corp. (TSX:DGC) fell 50 cents or 11.7% to $3.77 amid an announcement that company founder and CEO Gerald Panneton has resigned, effective immediately.Industrials led advancers as Canadian Pacific Railway (TSX:CP) improved by $2.07 to $161.11.In corporate news, auto parts maker Martinrea International (TSX:MRE) was a major TSX decliner, down 77 cents or 8.37% to $8.43. The slide followed a 13% drop Friday, when it crossed below its 200-day moving average, an important technical indicator.Shares in Canadian cheese giant Saputo (TSX:SAP) were six cents higher to $48.60 after the company sweetened its bid for Australia’s oldest dairy processor. The company is offering A$9.20 per share if it acquires a majority of Warrnambool Cheese and Butter shares, which adds 20 cents per share to its unconditional offer and bests offers from two local rivals.TOP STORIESNew BlackBerry boss ousts firm’s top three execs in major shakeupDavid Rosenberg: The case for staying totally investedOil economies brace for major shakeup in energy sector when flood of Iranian oil hits marketBanks could withstand housing collapse, but consumers vulnerable, warns top financial watchdog WHAT’S ON DECK TUESDAYECONOMIC NEWSUNITED STATES8:30 a.m.Building permits (Oct) 9 a.m.S&P Case-Shiller home price index: Economists expect 0.9% rise from the month before, 13% year over year FHFA House price index (Sept, Q3) Economists expect 0.4% rise from month before, 2% (Q3) rise year over year 10 a.m.Conference Board consumer confidence index (Nov): Economists expect a reading of 72.6, up from last month CORPORATE NEWSCANADAAlimentation Couche-tard Inc Q2 earnings: Analysts expect $1.22 a share UNITED STATESAnalog Devices, Inc. Q4 earnings: Analyts expect 58¢ a share Hewlett-Packard Q4 earnings: Analyts expect US$1 a share Hormel Foods Corp. Q4 earnings: Analyts expect 54¢ a share Pall Corp. Q4 earnings: Analyts expect 69¢ a share Tiffany & Co. Q3 earnings: Analyts expect 58¢ a share read more

Dubai refuses to handover Udayanga Lanka to send a team

An Interpol warrant had been issued for Weeratunga’s arrest over ongoing investigations into the controversial MiG aircraft deal.The FCID later began discussions with the Dubai authorities with regard to handing the ex-diplomat over to the Sri Lankan authorities. The authorities in Dubai are refusing to handover Sri Lanka’s former Ambassador to Russia Udayanga Weeratunga who was arrested last month.Sources told The Sunday Leader that diplomatic efforts are underway to secure Weeratunga’s transfer to Sri Lanka but the efforts have so far failed. Earlier the Dubai police detained Weeratunga on 4th February at the Dubai International Airport or questioning while he was in transit to travel to the United States.However, a special team comprising officers from the FCID, Criminal Investigation Division (CID), Foreign Ministry, Attorney Generals’ Department and Department of Immigration and Emigration sent to Dubai to extradite the fugitive ex-diplomat based on a warrant obtained from the Colombo Fort Magistrate had to return empty-handed since he had been released by the Dubai police.When contacted by The Sunday Leader, the Minister of Law and Order Ranjith Madduma Bandara said that a team is preparing to travel to Dubai to have more talks with the authorities to bring back Weeratunga to Sri Lanka. Weeratunga was detained in Abu Dhabi following his arrest in Dubai late last month. The authorities in Dubai had arrested Weeratunga based on investigations and submissions made by the Police Financial Crimes Investigations Division (FCID). read more