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Canadian Stocks Fall for Third Session Amid Energy Sector Weakness

Strategic Insights

— 1 min read

Canadian stocks experienced a decline for a third consecutive session on Monday, with the S&P/TSX Composite Index closing down 96.79 points, or 0.70 percent, at 13,702.33. This downturn was largely driven by a significant drop in the energy sector, which saw the S&P/TSX Energy Index slip 1.40 percent. Suncor Energy Inc., the largest energy producer in Canada, led the decline with a reduction of 2.23 percent.

Key Takeaways:

  • The S&P/TSX Composite Index closed down 96.79 points, or 0.70 percent, at 13,702.33 on Monday.
  • The S&P/TSX Energy Index dropped 1.40 percent, with Suncor Energy Inc. reducing 2.23 percent.
  • The S&P/TSX Venture Composite Index declined 52.31 points, or 2.28 percent, at 2,238.60.
  • Capstone Mining Corp. acquired Far West Mining Ltd. and partnered to develop the acquired company's major Chilean copper project.
  • TD Ameritrade Holding Corp. reported a 16 percent increase in second-quarter net income, rising to 171.7 million U.S. dollars.
  • Magma Energy Corp. agreed to sell a 25 percent stake in Icelandic geothermal power company HS Orka to local pension funds following protests over foreign ownership.
  • Statistics Canada announced a decline in foreign acquisitions of Canadian securities in February, while Canadians bought more offshore securities, led by U.S. government securities.

Statistics:

  • The S&P/TSX Composite Index dropped 96.79 points, or 0.70 percent, on Monday.
  • The S&P/TSX Energy Index slipped 1.40 percent, with a 2.23 percent reduction in Suncor Energy Inc.
  • The S&P/TSX Venture Composite Index declined 52.31 points, or 2.28 percent, at 2,238.60.
  • 171.7 million U.S. dollars - the reported net income of TD Ameritrade Holding Corp. for the second quarter.
  • 16 percent - the increase in transaction-based revenue for TD Ameritrade Holding Corp. in the second quarter.
  • One U.S. dollar was buying 0.9643 Canadian dollars at 5 p.m. local time (2200 GMT) on Monday, compared with 0.9590 Canadian dollars on Friday.

Sources:

  • XINHUA via COMTEX, TORONTO, Apr 18, 2011.
  • XINHUA NEWS AGENCY, 2011.
  • Comtex SmarTrend Alert, Thursday, 04-14-2011 23:59.
  • Comtex News Network, Inc., 2004-2011.

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