TSX falls as Canadian National bid to buy Kansas City rail falls

Published

4 years ago

April 20, 2021

(Reuters) –Canada‘s main stock index slipped on Tuesday, pressured by industrial shares as Canadian National tumbled after it offered to buy railroad operator Kansas City Southern for $30 billion.

* Canadian National‘s shares dropped 7.5% and was the worst performer on the main index after the company trumped a rival bid by Canadian Pacific to buy Kansas City Southern.

* That led to the industrial sector posting a decline of 2%. * At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 117.6 points, or 0.61%, at 19,086.82.

* The energy sector dropped 2% even as U.S. crude prices were up 0.3% a barrel and Brent crude added 0.5%. [O/R]

* The materials sector, which includes precious and base metals miners, lost 0.2% as gold futures fell 0.1% to $1,767.9 an ounce. [GOL/] [MET/L]

* On the TSX, 76 issues were higher, while 150 issues declined for a 1.97-to-1 ratio to the downside, with 15.29 million shares traded.

* The largest percentage gainers on the TSX were Spin Master Corp, which jumped 2.7%, and Altus Group, which rose 2.1%.

* The most heavily traded shares by volume were Zenabis Global Inc, Bombardier and Air Canada.

* The TSX posted five new 52-week highs and one new low.

* Across all Canadian issues there were 26 new 52-week highs and nine new lows, with total volume of 33.50 million shares.

(Reporting by Shashank Nayar in Bengaluru; Editing by Amy Caren Daniel)

September merchandise trade deficit narrows to $1.3 billion: Statistics Canada

Published

8 hours ago

November 5, 2024

Anne Joseph

OTTAWA – Statistics Canada says the country’s merchandise trade deficit narrowed to $1.3 billion in September as imports fell more than exports.

The result compared with a revised deficit of $1.5 billion for August. The initial estimate for August released last month had shown a deficit of $1.1 billion.

Statistics Canada says the results for September came as total exports edged down 0.1 per cent to $63.9 billion.

Exports of metal and non-metallic mineral products fell 5.4 per cent as exports of unwrought gold, silver, and platinum group metals, and their alloys, decreased 15.4 per cent. Exports of energy products dropped 2.6 per cent as lower prices weighed on crude oil exports.

Meanwhile, imports for September fell 0.4 per cent to $65.1 billion as imports of metal and non-metallic mineral products dropped 12.7 per cent.

In volume terms, total exports rose 1.4 per cent in September while total imports were essentially unchanged in September.

This report by The Canadian Press was first published Nov. 5, 2024.

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