Canadian stocks register biggest weekly loss in almost ten months

08:46, May 10, 2010      

Email | Print | Subscribe | Comments | Forum 

Positive employment data failed to push Canadian markets into positive territory as losses in energy and financial stocks led the downward trend. The S&P/TSX Composite Index closed 149.99 points, or 1.27 percent, lower at 11, 692.43 on Friday. For the week, the benchmark equity index lost 4. 24 percent, the sharpest in almost ten months.

The S&P/TSX Composite Index last fell five times in a week in June 2006.

None of the twelve sectors on the Toronto Stock Exchange (TSX) made any gains on Friday, among which the health care sector lost 2.92 percent, and the losses of other five sectors were more than one percent.

The index measuring the energy sector on the TSX reduced 1.21 percent while crude oil for June delivery decreased 2.28 percent to 75.35 U.S. dollars a barrel on the New York Mercantile Exchange on Friday.

Suncor Energy Inc., Canada's largest energy and gas producer, declined 1.39 percent. Cenovus Energy Inc. dropped 1.47 percent.

The index measuring the financials sector on the TSX slipped 0. 92 percent. Royal Bank of Canada, the country's biggest bank, closed down 1.09 percent.

BlackBerry maker Research In Motion Ltd. dropped 3.81 percent after Market-research firm IDC said the company's share of the global smartphone market fell to 19.4 percent from 20.9 percent from a year ago, while iPhone maker Apple Inc.'s share climbed to 16.1 percent from 10.9 percent.

Data released by Statistics Canada on Friday showed that the country added 109,000 jobs in April, lowering the unemployment rate to 8.1 percent from 8.2 percent in March.

Under the influence of this positive report, the Canadian dollar appreciated against its U.S. counterpart on Friday.

One U.S. dollar was purchasing 1.0425 Canadian dollars at 5pm local time (2100 GMT) on Friday, compared to one U.S. dollar buying 1.0512 Canadian dollars on Thursday, and one U.S. dollar buying 1.0177 Canadian dollars on last Friday.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion