Closing Bell TSX in the red ahead of corporate earnings economic data

TORONTO — A drop in energy stocks helped push the Toronto stock market slightly lower Monday as traders brace for a heavy slate of earnings reports this week, particularly from the resource sector.Here are the closing numbersTSX — 15,445.22 -9.82 -0.06%S&P 500 —  1,978.91 0.57  0.03%Dow — 16,982.59 22.02  0.13%Nasdaq — 4,444.91 -4.65 -0.10%The S&P/TSX composite index gave back 9.82 points to 15,445.22.“This week will be jam-packed with information for investors to digest,” said Craig Fehr, Canadian markets specialist at Edward Jones in St. Louis.The Canadian dollar rose 0.12 of a cent at 92.59 cents US.New York markets were mainly positive as the Dow Jones industrials moved ahead 22.02 points at 16,982.59, the Nasdaq lost 4.65 points to 4,444.91 and the S&P 500 index was up 0.57 of a point to 1,978.91.Big names in the Canadian gold mining and energy sector, such as Barrick Gold Corp. (TSX:ABX) and Suncor Energy (TSX:SU), report their second-quarter results this week. Those two sectors are the best performing on the TSX year to date with energy up about 19% while the gold sector is up about 28% — but that’s after being cut in half last year. The energy sector is actually the leading advancer since its market weighting is far heavier than gold.“This is an important week for the TSX because those two areas, gold and energy, have been the areas that have led the TSX to a 15% total return so far this year — huge gains in those sectors,” added Fehr.Bombardier (TSX:BBD.B) also reports its results Thursday. Its shares are close to its 52-week low of $3.44 and investors will be looking for an update on the development of the company’s crucial CSeries airliner, which has been beset by a series of delays. Its shares slipped four cents to $3.61.The energy sector led TSX decliners, down 0.84% as September crude on the New York Mercantile Exchange lost 42 cents to US$101.67 a barrel.Athabasca Oil Corp. (TSX:ATH) shares fell 47 cents or 6.83% to $6.41 as the company seeks to reassure investors that it is working to close a $1.23-billion oilsands asset sale to PetroChina.Techs were also weak with BlackBerry (TSX:BB) down 37 cents to $10.75 after CEO John Chen told Bloomberg Television that he has no acquisition offers on his desk. He said BlackBerry is focused on turning its ailing business around independently, and its chances of success are “better than 80/20.”The TSX closed well off the worst levels of the session as the gold sector finished positive, up about 0.8% as August bullion closed unchanged at US$1,303.30 an ounce.The TSX base metals sector led TSX advancers, up 1.11% while September copper was unchanged at US$3.24 a pound.There was also major acquisition activity in the U.S. where Dollar Tree is buying rival discount store Family Dollar in a cash-and-stock deal valued at about US$8.5 billion.The data calendar for Canada is light this week with only one major report. Statistics Canada posts May gross domestic product figures on Thursday. Economists are looking for a 0.3% gain for the month.In the U.S., traders will look to second-quarter GDP data out Tuesday, the Federal Reserve makes its scheduled announcement on interest rates on Wednesday and on Friday, the U.S. government releases its employment report for July.TOP STORIESAthabasca Oil shares dive on worries over PetroChina $1.23-billion paymentCMHC turns up scrutiny of condo investors as concerns of overheated market growBlackBerry CEO says turnaround’s chances of success ‘better than 80/20,’ no buyout offers on tableRussia ordered to pay $50-billion to shareholders, 10 years after it seized oil giant YukosWHAT’S ON DECK TUESDAYECONOMIC NEWSCANADAUNITED STATES9 a.m.S&P Case-Shiller home price index (May): Economists expect 0.3% rise, 9.9% rise year over year Homeownership and residential vacancy rates (Q2) 10 a.m.Conference Board Consumer Confidence Index (July): Economists expect reading of 85.5 CORPORATE NEWSCANADAGeorge Weston Limited    Q2 earnings: Analysts expect    $1.13 a share Norbord Inc Q2 earnings: Analysts expect 9¢ a share Talisman Energy Inc Q2 earnings: Analysts expect 3¢ a share Timmins Gold Corp    Q2 earnings: Analysts expect    4¢ a share Westjet Airlines Ltd    Q2 earnings: Analysts expect    27¢ a share UNITED STATESAmgen  Q2 earnings: Analysts expect US$2.07  a share American Express Company Q2 earnings: Analysts expect US$1.39 a share Marriott International Q2 earnings: Analysts expect 67¢ a share   McGraw Hill Financial Q2 earnings: Analysts expect 98¢ a share Newmont Mining Corp.  Q2 earnings: Analysts expect 19¢ a share Pfizer Q2 earnings: Analysts expect 57¢ a share United Parcel Service, Inc. Q2 earnings: Analysts expect US$1.25 a share read more

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Heart surgery a success for Strauss as BOD remains a doubt

first_imgLEINSTER HAVE BEEN boosted by the news that Richardt Strauss’ heart surgery last week was a success, and the hooker is expected to make a full return to rugby in the future.The Ireland international was ruled out for the season when it was announced that he had been made aware of a heart condition following medical examinations. There had been some doubt as to whether Strauss would return for the province, but the outlook is now positive.Speaking at UCD this afternoon, team manager Guy Easterby confirmed that the hooker’s surgery had gone smoothly.The good news is that Richardt Strauss had his operation a few days ago, a week ago today. That was a success and he has a recovery time now. They [the doctors] are confident that everything went well and that he will be back playing sometime in the future. They are generally not sure [about a return date].“It is months rather than weeks because of some of the recovery he has to go through. We are told he will have no issue at all playing again, that is fantastic. You can never say 100% but it is 99.9%. We won’t be rushing him, put it that way. You have to trust medical opinion on this.“If the doctors feel he is good to go, Straussy is. He is going to be keen to get back on that pitch because he is going to spend a lot of time in that gym otherwise, a lot of running around, not really Straussy’s favourite thing, so hopefully he will be back sooner rather than later.”Leinster team manager Guy Easterby welcomed the good news on Strauss. ©INPHO/Donall Farmer.Leinster have no fresh injury concerns arising from the victory over Castres in the Heineken Cup on Saturday, but doubt remains over whether or not Brian O’Driscoll will return from a calf injury for this weekend’s Pro12 clash against Connacht.“Brian is on a day-to-day at the moment. He is definitely making improvements as you would expect, but it generally is just a day-to-day evaluation of where he is at.”Easterby says tight head prop Mike Ross is being assessed on a similar basis, but like O’Driscoll has returned to light training and hopes to be involved on-field later in the week. Lote Tuqiri also continues to recover from a hamstring strain, but is still uncertain.Shane Jennings has made a full recovery from his hand injury and comes back into the frame for selection against Connacht. Meanwhile, centre Andrew Goodman’s rehab has been stepped up and he is expected back in the “next few weeks”, having been injured since the summer.O’Driscoll’s ongoing struggle with that calf problem will cause worry for Joe Schmidt and Ireland fans who are hoping to see the legendary centre involved in the upcoming November internationals. However, Easterby says he is optimistic that O’Driscoll will be available.“Obviously he has a calf injury and you have to be careful with those. You certainly don’t want to re-do the injury. So you wouldn’t want to be pushing him back too early. Brian knows his body better than anyone.“He is a veteran athlete in terms of his age but he has got a fantastic feel for his own body. He is excellent at managing himself and he certainly won’t be putting himself under any risk, but I don’t think there  will be any issue at all from what I am gathering for the Autumn games.”Another win, and O’Connor promises further improvement from LeinsterScrum re-cap: Your weekend rugby reviewlast_img read more

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