08292016Mon
Last update: Mon, 29 Aug 2016 12pm

Americas

Markets - Equity - Americas

Materials shares pull TSX down for worst day in over 8 weeks TORONTO/OTTAWA: Canada's main stock index posted its biggest decline in more than eight weeks on Wednesday as lower metal and oil prices sent shares of resource companies tumbling. The decline in the materials and energy sectors easily outweighed gains in financial stocks after better-than-expected bank earnings this week.The materials group, which includes precious and base metals miners and fertilizer companies, was the biggest loser, shedding 5.8 percent as copper and gold prices fell. Barrick Gold had its worst day in over a year. Investors were also looking ahead to a speech from US Federal Reserve Chair Janet Yellen at the end of the week with markets hoping for a sign on whether the Fed will raise interest rates before the end of the year.That uncertainty may have prompted investors to take some money off the table, adding to losses in materials shares that have performed strongly this year, said Elvis ...

Markets - Equity - Americas

Pharma shares under fire as US stocks fall NEW YORK: US stocks fell Wednesday with pharmaceutical shares tumbling as controversy over the sky-high price of Mylan's EpiPen prompted rebukes from the White House and Democratic presidential candidate Hillary Clinton.Mylan sank 5.8 percent as Clinton and White House spokesman Josh Earnest blasted the drugmaker for raising the price of epinephrine injectors from $100 to $500 over five years. The injectors are used to counter life-threatening allergic reactions.At the closing bell, the Dow Jones Industrial ...

Markets - Equity - Americas

US stocks mostly fall as oil shares pressured NEW YORK: Wall Street stocks mostly fell early Wednesday as petroleum-linked shares were under pressure ahead of a US oil inventory report.ExxonMobil and Schlumberger were among the oilfield equities to dip after data late Tuesday from the American Petroleum Institute showed US oil stockpiles rose last week. The Department of Energy will release official reserves data later this morning.Markets are looking ahead to Friday's speech by Federal Reserve Chair Janet Yellen, which could shed light ...

Markets - Equity - Americas

Housing sector lifts US, European stocks; oil rises NEW YORK: Homebuilders helped lift both US and European stock markets on Tuesday, while oil prices got a boost from Iran's positive signals about an output freeze. On Wall Street, technology companies led the Nasdaq to a record intraday high and robust housing market data strengthened the case for a firming economy. Housing stocks jumped 2 percent after the Commerce Department reported new US single-family home sales unexpectedly soared in July to near nine-year highs. ...

Markets - Equity - Americas

Wall St edges up led by tech, strong data NEW YORK: US stock rose modestly on Tuesday, as gains in the tech sector helped lift the Nasdaq to a record intraday high and solid housing market data provided more evidence the economy may be picking up momentum. The Dow Jones industrial average rose 17.88 points, or 0.1 percent, to 18,547.3, the S&P 500 gained 4.26 points, or 0.2 percent, to 2,186.9 and the Nasdaq Composite added 15.48 points, or 0.3 percent, to 5,260.08. Copyright ...

Markets - Equity - Americas

Best Buy shines as US stocks edge higher NEW YORK: US stocks edged higher Tuesday, but the tone of trade remained cautious ahead of Federal Reserve Chair Janet Yellen's speech on the economy at the end of the week.Electronics retailer Best Buy grabbed the most attention, rocketing 19.4 percent after its second quarter profits handily beat forecasts and the company boosted its outlook for the rest of the year.But drugmaker Mylan Pharmaceuticals sank 4.8 percent after US legislators called for probes into the ...

Markets - Equity - Americas

TSX rises, led by financial stocks TORONTO: Canada's main stock index rose on Tuesday, led by financial shares after one of the country's major banks reported better-than-expected earnings, while lower oil prices weighed on energy stocks.The Toronto Stock Exchange's S&P/TSX composite index was up 37.05 points, or 0.25 percent, at 14,785.24, shortly after the open.Eight of the index's 10 main groups were higher.Copyright Reuters, 2016 ...