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Gold/Mining/Energy : Post Practice For KK - Temporary -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (63)	5/15/1998 4:24:00 AM
From: Kerm Yerman	Read Replies (1) \| Respond to of 122

JEAN Last, I go to THE VANCOUVER SUN. vancouversun.com Use their Business Index Window and select WORLD BUSINESS. Then find regularb feature CLOSING WORLD MARKETS. ---------------------------------------------------------------------- Closing world markets: Asia stable, others down TORONTO (CP) - For the third straight session, the Toronto Stock Exchange slipped Thursday but for a change it had some company on the way down. The blue-chip Dow Jones industrial average, which set a record high a day earlier, slid 39.61 points to 9,172.23 as Wall Street absorbed a warning of lower earnings from high-tech giant Hewlett-Packard. Full Story ---------------------------------------------------------------------- For the time being, lets concern ourselves with TSE info only. What I can add to the already accumulated info - I do. ---------------------------------------------------------------------- END RESULT OF INTEGRATED TORONTO INFO. ---------------------------------------------------------------------- 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 Canadian dollar opened Thursday at 68.97 cents US, down 0.24 of a cent, which took the loonie's decline since Wednesday morning to 0.77 cent. It later clambered back above 69 cents and closed at 69.06 cents US, down 0.15 from Wednesday's close. The dollar's weakness is being attributed to Canadian interest rates that are lower than those in the U.S. 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 TSE 100 index lost 1.74 to 468.32. 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. Only precious metals stocks showed any strength on the TSE as interest-rate uncertainty, a weak Canadian dollar and Asian instability nudged investors toward gold. The gold and silver subindex peeked into positive territory by 0.11 per cent, thanks to some of the larger gold mining stocks such as Barrick, up 40 cents to $31.45. Placer Dome slipped 15 cents to $20.45. Metals and mining matched the communications sector's 0.96 per cent decline. Cominco lost $1.20 to $21.00, Falconbridge dropped 15 cents to $18.70 and Rio Algom Ltd., which dropped C$0.85 to C$23.80. Alcan Aluminium lost 15 cents to $46.50. Nickel giant Inco edged up 10 cents to $23.20. 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. TSE communications stocks showed the day's biggest loss, down 0.96 per cent, in part because of the continuing battle for WIC Western International Communications. Rival suitors Shaw Communications and CanWest Global both saw their share prices fall. Shaw slipped 15 cents to $22.75. The object of their affection, WIC's B shares, gained 25 cents at $44.50. Also leading the group decline was 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.