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Stocks Bruised by Close

Aug 10, 2017 ( via COMTEX) --

Equities around the world fell in price, including ones bought and sold here in Canada, displaying fears over geopolitical events in the Far East.

The S&P/TSX Composite Index thundered lower by 143.08 points to close Thursday at 15,074.25

The Canadian dollar gave back 0.26 cents to 78.51 cents U.S.

Tech stocks took the worst drubbing, as BlackBerry suffered a loss of 28 cents, or 2.5%, to $11.09, while Constellation Software ducked back $4.68 to $686.40.

Among health-care stocks, Valeant Pharmaceuticals erased 34 cents, or 1.9%, while Aphria lopped off two cents to $5.89.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down $1.37, or 1.5%, to $92.95, and Manulife Financial falling $1.21, or 4.7%, to $24.43. Shares of Manulife, which reported better-than-expected results, fell after the company played down talk of a John Hancock spinoff.

Materials, home to gold producers and other resource-based companies, was among only two gainers

Barrick Gold rose 43 cents, or 2%, to $21.69, while Goldcorp rose 43 cents, or 2.7%, to $16.58. Pan American Silver, which reported second-quarter results, rallied $2.18, or 10.7%, to $22.47.

Nevsun Resources offset some of the material group's gains, plunging 54 cents, or 16.4%, to $2.75 after the company reported disappointing quarterly results.

On the macroeconomic slate, Statistics Canada reported new house prices eked up 0.2% nationwide in June, due largely to lack of momentum on prices in Southern Ontario.

This was down from a 0.8% increase in April and a 0.7% gain in May.


The TSX Venture Exchange swooned 4.16 points to 758.57

All but two of the 12 TSX subgroups were negative, with information technology skidding 1.9%, health-care off 1.8%, and financials, down 1.5%.

The two gainers were gold, up 2.1%, and materials, up 0.6%.


U.S. equities fell on Thursday as tensions between the United States and North Korea persisted.

The Dow Jones Industrials stumbled 204.69 points to 21,844.01, with Goldman Sachs contributing the most losses.

The S&P 500 was blasted 35.81 points, or 1.5%, to 2,438.21, with information technology and financials leading decliners. The index also dipped below its 50-day moving average, a key technical level, for the first time in a month.

The NASDAQ tumbled 135.46 points, or 2.1%, to 6,216.87, with Apple, Alphabet, Amazon and Netflix all trading lower.

Wall Street also focused attention on retail earnings, as Macy's and Kohl's both reported better-than-expected quarterly results. Dillard's, however, posted much weaker-than-expected results, sending the stock down 16%.

Calendar second-quarter earnings have been mostly better than expected, with growth surpassing initial expectations and most S&P 500 companies topping profit and sales estimates.

Earlier this week, U.S. President Donald Trump said that North Korea would face "fire and fury" if it continued to threaten the States, however North Korea has dismissed these warnings by the U.S. incumbent as a "load of nonsense."

Prices for the benchmark 10-year Treasury note leaped, lowering yields to 2.20% from Wednesday's 2.25%. Treasury prices and yields move in opposite directions.

Oil prices lost $1.07 to $48.49 U.S. a barrel

Gold prices jumped $11.70 to $1,291.00 U.S. an ounce.

********************************************************************** As of Sunday, 08-06-2017 23:59, the latest Comtex SmarTrend® Alert, an automated pattern recognition system, indicated a DOWNTREND on 05-31-2012 for KSS @ $46.59. For more inform

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