Canadian Stocks dip for a third day, led by energy producers and financial firms, after crude oil retreated and investors speculated the nation’s banks won’t be permitted to relax fair-value accounting. For full story, click here
The market in Toronto jumped significantly, in part due to the merger announcement between Suncorp (TSE:SU) and Petro-Canada (TSE:PCA). Petro-Canada was up 20 per cent at the end of the day and many of the other Canadian oil patch companies rose along with it. EnCana (TSE:ECA), Canadian Natural Resources (TSE:CNQ) and Talisman Energy (TSE:TLM) all closed up significantly.
Oil rose towards $46 on Wednesday on firm stocks and ahead of inventory data, after a near 3 percent fall the previous day, when a forecast revised down oil demand and Saudi Arabia opted not to deepen supply curbs. Ryuichi Sato, an analyst at Tokyo-based Mizuho Corporate Bank, said: If OPEC decides on further cuts, [...]
After falling from $147 to $35 per barrel towards the end of last year, crude oil has once again gained and touched $45 per barrel on speculation that China's stimulus plan may spur demand for the commodity near term. However, some experts are of the view that this is not just speculation but real purchases driving the prices up.
Energy stocks strengthened as a result of rise in crude-oil prices. April crude rose as high as $46.76 per barrel in electronic trading on Globex. They were recently up 84 cents at $46.36 a barrel. Robert Tony Nunan, an assistant general manager at Mitsubishi Corp. in Tokyo, said: With oil prices able to stage a [...]
Oil futures declined US$4.61, or 10.3%, to settle at US$40.15 a barrel, the biggest one-day drop since Jan. 7. Prices are down 11% so far this year. For full story, click here
EnCana Corp was up 2.8 percent at C$55.70. For full story, click here
The oil and gas group rose 1.9 percent as the price of crude settled higher at $41.17 a barrel. For full story, click here
Driven by the strong bull run in the stock market, Mukesh Ambani-led Reliance Industries has been ranked as the biggest wealth creator in the five year period from 2003 to 2008, a latest study compiled by brokerage firm Motilal Oswal says. For full story, click here
Another rough day for investors this Monday. As it became clear that the American House of Representatives would reject the authorization law for the executive’s $700 billion financial sector bailout plan, commodities began to tank. Oil futures shed more than $10 of their value during the day, dropping to $96.37 per barrel.
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