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First Notice: ICI investment declines; REM update; Housing Day speaker – Daily Commercial News

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4 years ago

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Investment in ICI sector declined in September 

Statistics Canada yesterday reported that total investment in building construction across the country decreased 1.7 per cent to $15.2 billion in September, after reaching a record high in August. The decline was attributed to decreases in the non-residential sector (minus 8.5 per cent to $4.5 billion) that were partially offset by increases in the residential sector investment (up 1.6 per cent to $10.7 billion). The commercial, industrial and institutional components of non-residential building construction all fell to the lowest levels seen since April 2020. Ontario (minus 9.5 per cent to $1.8 billion) and Quebec (minus 15.2 per cent to $1.0 billion) accounted for the majority of the provincial declines in all three non-residential components. 

 

CDPQ Infra to provide update on REM project 

CDPQ Infra and the REM project office will be hosting an update on progress of the Reseau express metropolitain project in Montreal tomorrow. The update will be hosted by Jean-Marc Arbaud, managing director of CDPQ Infra and the REM project office, and Macky Tall, president and CEO of CDPQ Infra. The project currently has more than 20 construction sites spread out over Greater Montreal.  

 

Bertaud speaks on National Housing Day 

City Building Ryerson today announced that Alain Bertaud, author of Order Without Design: How Markets Shape Cities, will be speaking Nov. 23 at a presentation in recognition of National Housing Day. The address starts at 11 a.m. 

 

Feds invest in EV charging platform 

The federal government today announced a $1-million investment in Toronto-based SWTCH Energy Inc. to address barriers to electric vehicle (EV) adoption. The company is developing a blockchain-based EV charging platform that it claims will reduce the cost of EV charging transactions and enhance grid efficiency. SWTCH, along with project partners Opus One Solutions, Toronto Hydro, University of Waterloo, University of Toronto, IBI Group and PowerCharge, is also contributing to this project, bringing the total project cost to over $2.6 million. 

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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3 weeks ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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4 weeks ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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4 weeks ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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