AmericasStay updated with Business News, Pakistan news, Current world news and latest world news with Business Recorder..http://www.brecorder.com/markets/equity/americas.htmlThu, 27 Nov 2014 22:53:53 +0000SRA Framework 2.0en-gbTSX drops as energy shares dive after OPEC meetinghttp://www.brecorder.com/markets/equity/americas/207336-tsx-drops-as-energy-shares-dive-after-opec-meeting.htmlhttp://www.brecorder.com/markets/equity/americas/207336-tsx-drops-as-energy-shares-dive-after-opec-meeting.htmlimageTORONTO: Canada's main stock index fell on Thursday as the outcome of an Organization of the Petroleum Exporting Countries meeting hit oil prices, weighing on shares of energy producers and offsetting gains in most of the sectors.

The OPEC meeting was the market's focus as it came after months of depressed oil prices, which have been weighed by concerns about increasing supply and sluggish demand for the commodity. The cartel did not announce the output cut investors were hoping for. Oil prices tumbled to a four-year low.

Energy shares, which are down about 29 percent since the middle of June, slumped 4.8 percent on Thursday.

"Energy shares are still vulnerable. I don't think they've shown signs of bottoming yet," said John Ing, president of Maison Placements Canada.

"This is going to drag on," he added. "The industry was hoping for higher oil prices, but it looks like prices are going to remain under pressure."

Overall, trading volumes were light because of the U.S. Thanksgiving holiday.

The Toronto Stock Exchange's S&P/TSX composite index was down 41.12 points, or 0.27 percent, at 14,997.29. Seven of the 10 main sectors on the index were higher.

Among shares of energy producers, Suncor Energy Inc gave back 5.6 percent to C$36.89 and had the biggest negative influence on the market. Canadian Natural Resources Ltd lost 3.5 percent to C$39.95.

Financials, the index's most heavily weighted sector, advanced 0.4 percent. Royal Bank of Canada climbed 0.5 percent to C$83.16, and Bank of Montreal rose 0.4 percent to C$83.96.

Copyright Reuters, 2014

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imad_kueconomist@yahoo.com (Imaduddin)AmericasThu, 27 Nov 2014 16:00:49 +0000
US stock markets closed Thursday http://www.brecorder.com/markets/equity/americas/207231-us-stock-markets-closed-thursday.htmlhttp://www.brecorder.com/markets/equity/americas/207231-us-stock-markets-closed-thursday.htmlimageNEW YORK: Financial markets in the United States will be closed Thursday for the Thanksgiving Day holiday.

The New York Stock Exchange and the Nasdaq Stock Market will have shortened trading sessions Friday, with both closing three hours early at 1:00 pm (1800 GMT).

Copyright AFP (Agence France-Presse), 2014

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parvezjabri@yahoo.com (Parvez Jabri)AmericasThu, 27 Nov 2014 09:41:06 +0000
TSX ends lower as energy shares drop with oil price http://www.brecorder.com/markets/equity/americas/207168-tsx-ends-lower-as-energy-shares-drop-with-oil-price.htmlhttp://www.brecorder.com/markets/equity/americas/207168-tsx-ends-lower-as-energy-shares-drop-with-oil-price.htmlimageTORONTO: Canada's main stock index dipped on Wednesday as shares of energy producers dropped with oil prices, with investors looking ahead to the outcome of an OPEC meeting later this week.

The Toronto Stock Exchange's S&P/TSX composite index unofficially closed down 35.24 points, or 0.23 percent, at 15,038.41.

Eight of the 10 main sectors on the index were higher.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasThu, 27 Nov 2014 05:32:31 +0000
S&P 500 ends at record high boosted by tech shareshttp://www.brecorder.com/markets/equity/americas/207167-s.html?p-500-ends-at-record-high-boosted-by-tech-shares=http://www.brecorder.com/markets/equity/americas/207167-s.html?p-500-ends-at-record-high-boosted-by-tech-shares=imageNEW YORK: US stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows.

Hewlett-Packard, Apple and chipmakers were among the largest advancers, with the PHLX semiconductor index closing up 2.1 percent to its highest since June 2001. Analog Devices jumped 5.5 percent to $54.56, leading the sector a day after posting results.

Hewlett-Packard rose 4.1 percent to $39.16 the day after reporting fourth-quarter earnings.

Trading was relatively light, with 4.8 billion shares changing hands compared to the daily average this month of about 6.3 billion.

The stock market will be closed on Thursday, while Friday will be a half-day session with the close at 1 p.m. (1800 GMT).

US consumer spending rose modestly in October and a measure of business spending plans fell for a second straight month, but consumer confidence was near a 7-1/2-year high suggesting the economy remains resilient in the face of faltering global demand.

"On balance, data was still supportive of reasonable strength in the economy," said Peter Jankovskis, co-chief investment officer at OakBrook Investments in Lisle, Illinois.

He said the optimism on holiday shopping was a reason behind gains in chipmakers. "PC sales have been a drag and there may be some hope we see a pick-up." The Dow Jones industrial average rose 12.81 points, or 0.07 percent, to 17,827.75, the S&P 500 gained 5.8 points, or 0.28 percent, to 2,072.83 and the Nasdaq Composite added 29.07 points, or 0.61 percent, to 4,787.32.

The S&P's energy sector fell 1.1 percent, taking the declines in the past three sessions to 3.4 percent.

Crude prices fell as after OPEC increased signals that it would hold off making any major production cuts this week.

US-traded Seadrill shares tumbled 22.8 percent to $15.99 after it stopped dividend payments to help it weather a slump in offshore drilling rig market rates.

Apple led S&P 500 gains, closing up 1.2 percent at $119 per share. Seven of the top 10 points gainers in the index on Wednesday were in the tech sector.

NYSE advancers outnumbered decliners 1,903 to 1,159, for a 1.64-to-1 ratio; on the Nasdaq, 1,644 issues rose and 1,047 fell for a 1.57-to-1 ratio favoring advancers.

The S&P 500 posted 54 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 104 new highs and 35 new lows.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasThu, 27 Nov 2014 05:31:22 +0000
OPEC meeting in focus as energy shares drag TSX downhttp://www.brecorder.com/markets/equity/americas/207166-opec-meeting-in-focus-as-energy-shares-drag-tsx-down.htmlhttp://www.brecorder.com/markets/equity/americas/207166-opec-meeting-in-focus-as-energy-shares-drag-tsx-down.htmlimageTORONTO: Canada's main stock index fell on Wednesday as the shares of energy producers dropped with oil prices, with investors looking ahead to the outcome of an Organization of the Petroleum Exporting Countries meeting later this week.

The meeting is significant as it comes after months of volatility in the price of oil, which has plummeted over concerns about an imbalance in the commodity's supply and demand.

Investors hopeful of a big supply cut were dealt a blow as OPEC leader Saudi Arabia and fellow member the United Arab Emirates indicated they were unlikely to push for a major change in oil output at the meeting.

The energy sector, which has lost about a quarter of its value since the middle of June, remained under pressure.

"The markets are skittish. The concern is that the OPEC guys are not stepping in to curtail production and put a floor under the oil price," said Paul Taylor, chief investment officer at BMO Asset Management.

"Now the question is whether you go in and start (chipping) away at some of these names," he added. "I've got to believe that the upside-downside equation is now skewed more to the upside in terms of the commodity price."

The Toronto Stock Exchange's S&P/TSX composite index closed down 35.24 points, or 0.23 percent, at 15,038.41. Eight of the 10 main sectors on the index were higher.

The shares of energy producers declined 2.3 percent, with Suncor Energy Inc losing 1.4 percent to C$39.07 and Canadian Natural Resources Ltd giving back 1.6 percent to C$41.38.

The gold-mining sector shed 2.1 percent, reflecting volatility in the bullion price. Barrick Gold Corp declined 1.6 percent to C$14.53, and Goldcorp Inc was down 2.7 percent to C$23.49.

Financials, the index's most heavily weighted sector, advanced 0.4 percent. Toronto Dominion Bank added 0.5 percent to C$57.08.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasThu, 27 Nov 2014 05:29:58 +0000
S&P 500 hits record as tech rallies, but energy weighs http://www.brecorder.com/markets/equity/americas/207161-s.html?p-500-hits-record-as-tech-rallies-but-energy-weighs=http://www.brecorder.com/markets/equity/americas/207161-s.html?p-500-hits-record-as-tech-rallies-but-energy-weighs=

imageNEW YORK: US stocks rose on Wednesday boosted by tech shares, with the S&P 500 and Dow industrials closing at records, while the energy sector was once more the largest weight on the market as crude prices continued to flirt with multi-year lows.

The Dow Jones industrial average rose 12.75 points, or 0.07 percent, to 17,827.69, the S&P 500 gained 5.76 points, or 0.28 percent, to 2,072.79 and the Nasdaq Composite added 29.07 points, or 0.61 percent, to 4,787.32.

Volume was relatively light ahead of the Thanksgiving holiday.

The US stock market will be closed on Thursday, while Friday will be a half-day session.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasThu, 27 Nov 2014 05:20:19 +0000
TSX slips as energy shares drop ahead of OPEC meetinghttp://www.brecorder.com/markets/equity/americas/207098-tsx-slips-as-energy-shares-drop-ahead-of-opec-meeting.htmlhttp://www.brecorder.com/markets/equity/americas/207098-tsx-slips-as-energy-shares-drop-ahead-of-opec-meeting.htmlimageTORONTO: Canada's main stock index declined on Wednesday as shares of energy producers dropped with oil prices ahead of an Organization of the Petroleum Exporting Countries meeting later this week.

The meeting is significant as it comes after months of volatility in the price of oil, which has plummeted over concerns about an imbalance in the commodity's supply and demand.

Investors hopeful of a big supply cut were dealt a blow as OPEC leader Saudi Arabia and fellow member the United Arab Emirates indicated they were unlikely to push for a major change in oil output at the meeting.

The energy sector, which has lost about a quarter of its value since the middle of June, remained under pressure.

"People don't quite know what to expect. The consensus is that OPEC will have a bit of a production cut but not a lot - not enough to make the price go up," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.

"We're obviously guarded about adding new money to the energy sector, and we'll have to wait another day or so to see what happens to prices," he added.

The Toronto Stock Exchange's S&P/TSX composite index was down 24.97 points, or 0.17 percent, at 15,048.68. Five of the 10 main sectors on the index were in the red.

'Shares of energy producers fell 1.5 percent, with Suncor Energy Inc losing 1.1 percent to C$39.21 and Canadian Natural Resources Ltd giving back 1.1 percent to C$41.60. The gold-mining sector shed 1.4 percent, reflecting volatility in the bullion price. Barrick Gold Corp declined 1.5 percent to C$14.55, and Goldcorp Inc was down 1.6 percent to C$23.77.

But financials, the index's most heavily weighted sector, advanced 0.3 percent.

Toronto Dominion Bank added 0.4 percent to C$57.03.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasWed, 26 Nov 2014 15:57:07 +0000
Wall St edges up after GDP, consumer confidence datahttp://www.brecorder.com/markets/equity/americas/206854-wall-st-edges-up-after-gdp-consumer-confidence-data.htmlhttp://www.brecorder.com/markets/equity/americas/206854-wall-st-edges-up-after-gdp-consumer-confidence-data.htmlimageNEW YORK: US stocks edged higher on Tuesday following a reading on economic growth that was much stronger than expected, but sharper gains were difficult to come by in a quiet week with major indexes at records.

The Commerce Department raised its estimate of third-quarter gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month. The reading was also stronger than the 3.3 percent rate that had been expected, pointing to strengthening fundamentals that should support the economy for the rest of the year.

"This continues the general trend of data pointing to a strong economy, and it indicates that the surge of activity we've seen is valid," said Bruce McCain, chief investment strategist at Key Private Bank in Cleveland.

Equities have been strong of late. The S&P is on track to rise for the 13th time in the past 15 sessions, and all three major indexes are coming off five-week streaks of gains. Both the Dow and S&P are at record levels, and the S&P is up more than 13 percent from an intraday low in mid-October.

The speed of the rally could lead to profit-taking, and market moves may be amplified by the low volume expected this week, with some market participants out for the Thanksgiving holiday. The U.S. stock market will be closed on Thursday and will close early on Friday.

"Valuations are a bit stretched, but as long as fundamentals continue to move forward investors will find a way to keep moving prices higher," McCain said. "I don't think we'll see anything to disrupt this move."

Apple Inc rose 0.7 percent to $119.44, which pushed the tech giant's market cap above $700 billion for the first time.

Tiffany & Co rose 3.5 percent to $108.71 after same-store sales growth beat expectations.

Nuance Communications Inc, whose voice recognition software runs Siri on Apple's iPhones, late Monday reported revenue growth of 6.4 percent. Shares rose 3.9 percent to $15.93.

Workday Inc late Monday forecast fiscal 2016 revenue below expectations, sending shares down 4.3 percent to $88.30.

At 10:02 a.m. (1502 GMT) the Dow Jones industrial average fell 0.32 points, or 0 percent, to 17,817.58, the S&P 500 gained 1.1 points, or 0.05 percent, to 2,070.51 and the Nasdaq Composite added 8.18 points, or 0.17 percent, to 4,763.07.

A reading of consumer confidence fell to 88.7 in November, the lowest since June, from October's revised read of 94.1. Expectations were for a reading of 96.

Advancing issues outnumbered declining ones on the NYSE by 1,749 to 968, for a 1.81-to-1 ratio on the upside; on the Nasdaq, 1,378 issues rose and 882 fell for a 1.56-to-1 ratio.

The S&P 500 posted 60 new 52-week highs and no new lows; the Nasdaq Composite recorded 87 new highs and 14 new lows.

Copyright Reuters, 2014

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imad_kueconomist@yahoo.com (Imaduddin)AmericasTue, 25 Nov 2014 15:58:46 +0000
Brazil's real pares recent gains, current account in focus http://www.brecorder.com/markets/equity/americas/206655-brazils-real-pares-recent-gains-current-account-in-focus.htmlhttp://www.brecorder.com/markets/equity/americas/206655-brazils-real-pares-recent-gains-current-account-in-focus.htmlimageSAO PAULO: Brazil's currency weakened on Monday as investors digested worse-than-expected current account data, pulling back part of a sharp Friday rise driven by the outlook for a new economic policymaking team.

Latin American stock markets were mostly flat, though Brazil's Bovespa stock index managed to climb for a fourth straight session.

The Brazilian real opened stronger against the dollar though began to weaken shortly thereafter, with traders pointing to what may have been an overdone rally in the currency on Friday.

The real strengthened over 2 percent on Friday on media reports that President Dilma Rousseff, long criticized by investors for emphasizing a heavy government hand in the economy, would name market-friendly economist Joaquim Levy as finance minister in her second term.

The nomination has not yet been confirmed by the government.

Optimism over the economy's future was cooled somewhat on Monday after Brazil posted its biggest current account deficit on record for the month of October.

"A very strong deficit ended up weakening the real today as it suggests (dollars) are leaving the country due to more modest exports," said Andre Perfeito, chief economist at Gradual Investimentos in Sao Paulo. "We had some very abrupt moves in Brazil on Friday, which could also explain today's performance."

Perfeito added that the Fed's stance on raising interest rates remains the key factor in determining the direction of the real in the medium to long term.

Brazil's Bovespa stock index posted slight gains after the finance minister reports drove a 5 percent rise on Friday. State-run firms such as oil producer Petroleo Brasileiro SA , known as Petrobras, climbed, offsetting a decline in bank shares. Traders said the bank losses were mostly due to profit-taking after Brazilian financial shares posted a three-day 12.9 percent rally.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasMon, 24 Nov 2014 15:23:24 +0000
TSX mixed as Hudson Bay debt plan offsets resources http://www.brecorder.com/markets/equity/americas/206653-tsx-mixed-as-hudson-bay-debt-plan-offsets-resources.htmlhttp://www.brecorder.com/markets/equity/americas/206653-tsx-mixed-as-hudson-bay-debt-plan-offsets-resources.htmlimageTORONTO: Canadian stocks opened on a mixed footing on Monday, with resource stocks suffering sluggish prices, offset by gains in the railways, banks, and Hudson's Bay Co, which has outlined a $1.25 billion refinancing plan.

The Toronto Stock Exchange's S&P/TSX composite index was down 22.1 points, or 0.15 percent, at 15,089.03 shortly after the open.

Copyright Reuters, 2014

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s.rs96@yahoo.com (Shoaib-ur-Rehman Siddiqui)AmericasMon, 24 Nov 2014 15:18:58 +0000