JEAN
I now proceed to find closing information for the TSE as put out by REUTERS. I use the CNN site and their search engine to find the article. I enter TORONTO EXCHANGE. This is what I found last night.
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Toronto Stocks Close Lower on Rate Fears
TORONTO, May 14 (Reuters) - Toronto stocks closed lower on Thursday as a slumping Canadian dollar renewed fears that the Bank of Canada could be forced to raise interest rates.
14-MAY-98 (Reuters)
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cnn.com You might consider customizing the news to fit your interests. List TORONTO as your first subject.
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I only integrate Toronto info. Leave NY & WORLD info the same. This is result of the integrated TSE info. Compare it to last message.
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The TSE 300 fell for a third-straight session, hurt by bank shares and oil issues
Toronto stocks closed lower on Thursday as a slumping Canadian dollar renewed fears that the Bank of Canada could be forced to raise interest rates. Canadian stocks fell as the declining C$ hurt bank shares. Gains in manufacturers like Northern Telecom Ltd. helped temper the decline.
The Toronto Stock Exchange 300 composite index fell 29.63 points, or 0.4%, to 7677.86. About 91.8 million shares changed hands on the TSE, down from 115.1 million shares traded on Wednesday. On Wednesday the Toronto market dropped 10.29 points to 7707.49. Yesterday, trading value was worth C$1.58 billion. Advancers lagged decliners 407 to 600 with 308 issues unchanged.
Toronto's blue chip 35 index also lost ground today, falling 1.86 points or 0.44 percent to 417.97.
The Toronto market was knocked around for much of the day by fears that the faltering Canadian dollar, which fell to $0.6911 (C$1.4470), would prompt Canada's central bank to raise interest rates.
''What people are looking at here is the Canadian dollar and they're saying it could be going further south, and if it does go further south, the bank's going to have to step in and raise rates,'' said Conor Bill, director of retail trading at ScotiaMcLeod.
Higher interest rates tend to take the steam out of equities markets.
Overall in Toronto, 11 of the TSE 300's 14 subindexes closed lower, led by a one percent drop in the metals and minerals group and a 0.7 percent dip in the heavily weighted financial services sector.
Canadian Imperial Bank of Commerce (cm/tse) lost 70› to $50.15, Toronto Dominion Bank (td/tse) slid 60› to $64 and Newcourt Credit Group Inc. (nct/tse) declined $1.20 to $66.30.
Power Financial Corp. (pwf/tse), up $1.35 to $61.30, reported its profit before a one-time gain rose to 59› a share, up from 49› a year earlier.
The metal group's decline was led by a fall in Rio Algom Ltd., which dropped C$0.85 to C$23.80, and Cominco Ltd., which slipped C$1.20 to C$21.00.
Oil issues fell on expectations that crude prices will fall after the Organization of Petroleum-Exporting Countries said further production cuts are not expected until July. Suncor Energy Inc. (su/tse) lost $1.35 to $53 and Talisman Energy Inc. (tlm/tse) fell 85› to $40.
The communications sector also fell 1 percent, led by Thomson Corp., which lost C$0.90 to C$42.20, and CHUM Ltd., which dropped C$3.00 to C$54.00. Earlier in the week, Thomson reported a first-quarter loss of US$0.15 a share after extraordinary losses, compared with a loss of US$0.16 a share for the same period a year earlier.
Nortel (ntl/tse) rose 75› to $92.65 and computer services company CGI Group Inc.(GIBa/TSE) rose $2.35 to $48.70.
Bucking the negative trend was the gold and precious minerals sector, which rose 0.1 percent as the June price for Comex gold climbed US$0.50 to US$299.70.
Teleglobe Inc. (tgo/tse) climbed $2.85 to $69.35 after it reported its first quarter profit rose 49% to 58› a share, from 43› a share a year earlier.
''Overall it was a pretty sloppy day with no real action,'' said Bill.
Trading is expected to be light on Friday as traders book off early for Canada's Victoria Day long weekend.
Other Canadian markets were lower. The Montreal Exchange portfolio fell 14.43 points, or 0.4%, to 3875.87. The Vancouver Stock Exchange lost 0.04 of a point to 617.9. The Alberta Stock Exchange Combined Value Index gained 7.47 to 2331.55. 161 issues advanced, 169 declined and 132 remained unchanged.
Wall Street dipped into negative territory, bogged down by the falling fortunes of Dow heavyweight Hewlett-Packard.
Shares of Hewlett-Packard Co. led the U.S. market lower after the computer maker warned of disappointing earnings ahead.
The Dow Jones industrial average fell 39.61 points, or 0.4%, to 9172.23. If not for Hewlett-Packard's decline, the benchmark would have posted its second straight record.
The Standard & Poor's 500 composite index fell 1.49 points to 1117.37.
About 579.3 million shares changed hands on the Big Board, down from 604.7 million shares traded on Wednesday.
The Nasdaq composite index slipped 0.82 of a point to 1865.36.
The NYSE "uptick rule" was triggered twice as the Dow fell 50 points, pared the loss to less than 25 points and then slipped again in late trading. Top federal officials have asked the NYSE to eliminate or ease the 50-point collar.
Hewlett-Packard delivered a body blow to computer stocks when it warned late Wednesday that its fiscal second quarter earnings would miss expectations because of price cuts on its personal computers and Asian economic weakness.
Hewlett-Packard shares (hwp/nyse) slumped US$11 5/16 to US$70 5/16,
The outlook alarmed investors, who took out their anxiety out on other computer shares.
Dell Computer Corp. (dell/nasdaq) dropped US$3 to US$95 1/4 and Compaq Computer Corp. (cpq/nyse) fell 1/4 to US$31 9/16.
After the market closed, National Semiconductor Corp. warned its fourth-quarter revenue could be 20% below its year-ago period.
International Business Machines Corp. weathered the drop in computer stocks.
Louis Gerstner, chief executive of the Armonk, N.Y.-based company, said he expects revenue growth to accelerate and it will cut costs further to boot profit.
IBM shares (ibm/nyse) rose US$4 3/4 to US$125 13/16.
Microsoft Corp. (msft/nasdaq) rose US$2 to US$88 15/16. Last-minute negotiations between the company and U.S. government antitrust officials sparked optimism that Microsoft would be able to proceed with the release of its new flagship product, Windows '98.
Phillip Morris Cos. (mo/nyse) fell 5/8 to US$36 3/8, a 52-week low. Investors are concerned that potentially costly lawsuits and federal regulations will continue to hound cigarette makers.
Major overseas markets were broadly lower.
London: Nagging fears over the future direction of global interest rates kept British share gains in check. The FT-SE 100 index rose 24.4 points, or 0.4%, to 5948.5.
Frankfurt: The German Dax index fell 15.66 points, or 0.3%, to 5361.22.
Tokyo: A poor earnings outlook for some firms added to worries about the Japanese economy. The 225-share Nikkei average slipped 36.12 points, or 0.2%, to 15,307.69.
Hong Kong:Stocks swung back from heavy losses to finish with solid gains. The Hang Seng index ended up 122.66 points, or 1.3%, at 9591.95.
Sydney: The Australian share market fell as political instability in Asia sent the A$ lower. The all ordinaries index lost 14.3 points, or 0.5% to 2759.4.
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