Wednesday, 08 May 2013 02:35
Posted by Asad Naeem
TORONTO: Canada's main stock index posted its fourth straight session of gains on Tuesday as strength in financial and consumer discretionary stocks following comments from central bankers indicating their support of growth-oriented policies offset declines in gold miners after bullion prices tumbled.The market received further support after Germany, Europe's largest economy, reported a 2.2 percent rise in industrial orders in March, compared with expectations for a 0.5 percent drop.European Central Bank chief Mario Draghi said ...
19
SYDNEY: Australian shares reversed gains and ended 0.5 percent lower on Thursday as sliding metal prices weighed on mining stocks, offsetting early leads spurred by new record highs on Wall Street.The S&P/ASX 200 index finished the session 26 points lower at 5,165.7. The index fell 0.6 percent on Wednesday.Gold stocks took a beating after bullion slid below $1,400 an ounce, losing 2 percent and hitting its lowest in nearly a month as a record rally in US equities and economic optimism undermined the precious metal's safe-haven appeal.Gold miner Newcrest Mining Ltd lost 5.3 percent to 8-year lows, Regis Resources Ltd fell 3.4 percent and Perseus Mining Ltd shed 9.5 percent to 4-year lows."We're continuing to see weakness in the materials space," said Peter Esho, investment adviser at Wilson HTM Investment Group."There isn't too much trust out there. A lot of investors are running a ruler over earnings for the industrial ...
TORONTO: Canada's main stock index declined on Monday after sluggish Chinese economic data hurt commodity prices and dampened enthusiasm for shares of materials and energy companies.China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that the recovery is stalling.The resource-heavy Toronto market is sensitive to developments in China, a big consumer of commodities from Canada, because of its large exposure to materials and energy stocks.An unexpected rise in US ...
