Resource, financial stocks pull TSX lower amid falling prices for oil, copper – Dominion Lending Centres Clearlease Reports

Resource, financial stocks pull TSX lower amid falling prices for oil, copper – Dominion Lending Centres Clearlease Reports

TORONTO – (April 14, 2011) Dominion Lending Centres Clearlease Reports the Toronto stock market was negative Thursday as commodity prices headed lower amid worries about rising inflation.

The S&P/TSX composite index lost 44.45 points to 13,789.19 while the TSX Venture Exchange added 0.22 of a point to 2,301.89.

Falling oil prices and data showing a bigger than expected drop in manufacturing shipments pushed the Canadian dollar down 0.36 of a cent to 103.55 cents US.

Statistics Canada reported that manufacturing sales fell 1.5 per cent in February to $47.1 billion, a steeper decline than the 0.1 per cent expected by economists. The showing followed a 4.4 per cent gain in January.

The TSX energy sector fell almost one per cent as oil prices continued to head lower with the May contract on the New York Mercantile Exchange down 28 cents to US$106.83.

Prices had increased Wednesday in the wake of data showing a bigger than expected drop in U.S. gasoline inventories last week. But crude has rapidly come off a recent 2 1/2 year high of almost US$113 a barrel after Goldman Sachs warned investors Monday that crude oil prices were due for a “substantial pullback” after surging about 30 per cent since mid-February as the market responded to a civil war in Libya and unrest in other Mideast countries.

Suncor Energy (TSX:SU) declined 47 cents to $41.62 and Cenovus Energy (TSX:CVE) slipped 51 cents to $35.83.

Demand concerns pressured copper prices for a fourth session as the May contract on the Nymex shed two cents to US$4.27 a pound. The base metals sector lost 0.7 per cent as Teck Resources (TSX:TCK.B) stepped back 38 cents to $50.52 and Quadra FNX (TSX:QUX) lost 14 cents to $13.77.

Financials were also a drag with Scotiabank (TSX:BNS) down 43 cents to $57.35.

The gold sector was the leading advancer while the June contract in New York climbed $5.10 to US$1,460.70 an ounce. Barrick Gold Corp. (TSX:ABX) rose 59 cents to $50.74 while Goldcorp Inc. (TSX:G) improved by 58 cents to $51.23.

The Toronto market has racked up big, triple digit losses in two out of three sessions this week as investors take profits from a strong series of gains amid worries that high prices for commodities are fuelling inflation.

The European Central Bank has already joined the People’s Bank of China in lifting rates to combat inflation and the fear in the markets is that the U.S. Federal Reserve will end up tightening policy sooner than anticipated.

On Wednesday, the Fed’s latest monthly economic assessment, known as the Beige Book showed that rising commodity costs were ratcheting up price pressures.

New York markets were also lower amid data showing that applications for unemployment benefits rose 27,000 to a seasonally adjusted 412,000 for the week ended April 9. That left applications at their highest point since mid-February.

Also, more expensive gas, cars and furniture pushed wholesale prices higher last month.

The Labor Department says the Producer Price Index, which measures price changes before they reach the consumer, rose 0.7 per cent in March. That’s down from 1.6 per cent in February.

The Dow Jones industrial average lost 53.2 points to 12,217.79.

The Nasdaq composite index fell 19.18 points to 2,742.34 while the S&P 500 slipped 7.08 points to 1,307.33.

In earnings news, Corus Entertainment Inc., (TSX:CJR.B) which owns specialty television and radio operations across Canada, said that quarterly net income rose to $31.6 million or 38 cents per share. That compares with $14.6 million or 18 cents per share a year ago. Overall revenues increased to $191.1 million from $177.5 million and Corus shares gained 14 cents to $21.19.

Astral Media Inc. (TSX:ACM.A) said quarterly net income increased three per cent to $34.8 million. Revenue increased seven per cent to $232.7 million. The Montreal-based operator of pay and specialty television, radio, out-of-home advertising and digital media properties also said its annual dividend would increase to 75 cents on all class A and class B shares and its shares were unchanged at $37.20.

In other Canadian corporate news, Cinram International Income Fund (TSX:CRW.UN) has renewed its DVD manufacturing contract with 20th Century Fox Home Entertainment under a multi-year agreement.

The company did not disclose financial details of the agreement and did not specify how long the extended contract could last and its units fell three cents to 83 cents.

Investors will also be keeping a close watch on the latest batch of corporate earnings out of the U.S., including results from Google Inc. So far, results have been mixed, though JPMorgan Chase & Co. offered some encouragement Wednesday with a forecast-busting rise in earnings.

Meanwhile, Hasbro Inc. said Thursday its first-quarter profit tumbled 71 per cent to US$17.2 million as weakness persisted in games, puzzles and several other product lines and the toy company invested in new product development and staffing its joint-venture TV station

Traders also looked to China amid concerns that consumer price data to be released on Friday will be higher than anticipated and prompt further policy tightening from the People’s Bank. The bank has already raised interest rates four times since last October to keep a lid on price gains.

First quarter Chinese economic growth, also due to be reported Friday, is expected to ease from the previous quarter’s 9.8 per cent.

Earlier in Asia, Tokyo’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi rose 0.9 per cent and Hong Kong’s Hang Seng index was down 0.5 per cent.

China’s benchmark Shanghai Composite Index ended 0.3 per cent lower.

London’s FTSE 100 index lost 0.92 per cent, Frankfurt’s DAX was off 0.79 per cent while the Paris CAC 40 gave back 1.07 per cent.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###
Resource, financial stocks pull TSX lower amid falling prices for oil, copper - Dominion Lending Centres Clearlease Reports

TORONTO – (April 14, 2011) Dominion Lending Centres Clearlease Reports the Toronto stock market was negative Thursday as commodity prices headed lower amid worries about rising inflation.

The S&P/TSX composite index lost 44.45 points to 13,789.19 while the TSX Venture Exchange added 0.22 of a point to 2,301.89.

Falling oil prices and data showing a bigger than expected drop in manufacturing shipments pushed the Canadian dollar down 0.36 of a cent to 103.55 cents US.

Statistics Canada reported that manufacturing sales fell 1.5 per cent in February to $47.1 billion, a steeper decline than the 0.1 per cent expected by economists. The showing followed a 4.4 per cent gain in January.

The TSX energy sector fell almost one per cent as oil prices continued to head lower with the May contract on the New York Mercantile Exchange down 28 cents to US$106.83.

Prices had increased Wednesday in the wake of data showing a bigger than expected drop in U.S. gasoline inventories last week. But crude has rapidly come off a recent 2 1/2 year high of almost US$113 a barrel after Goldman Sachs warned investors Monday that crude oil prices were due for a “substantial pullback” after surging about 30 per cent since mid-February as the market responded to a civil war in Libya and unrest in other Mideast countries.

Suncor Energy (TSX:SU) declined 47 cents to $41.62 and Cenovus Energy (TSX:CVE) slipped 51 cents to $35.83.

Demand concerns pressured copper prices for a fourth session as the May contract on the Nymex shed two cents to US$4.27 a pound. The base metals sector lost 0.7 per cent as Teck Resources (TSX:TCK.B) stepped back 38 cents to $50.52 and Quadra FNX (TSX:QUX) lost 14 cents to $13.77.

Financials were also a drag with Scotiabank (TSX:BNS) down 43 cents to $57.35.

The gold sector was the leading advancer while the June contract in New York climbed $5.10 to US$1,460.70 an ounce. Barrick Gold Corp. (TSX:ABX) rose 59 cents to $50.74 while Goldcorp Inc. (TSX:G) improved by 58 cents to $51.23.

The Toronto market has racked up big, triple digit losses in two out of three sessions this week as investors take profits from a strong series of gains amid worries that high prices for commodities are fuelling inflation.

The European Central Bank has already joined the People’s Bank of China in lifting rates to combat inflation and the fear in the markets is that the U.S. Federal Reserve will end up tightening policy sooner than anticipated.

On Wednesday, the Fed’s latest monthly economic assessment, known as the Beige Book showed that rising commodity costs were ratcheting up price pressures.

New York markets were also lower amid data showing that applications for unemployment benefits rose 27,000 to a seasonally adjusted 412,000 for the week ended April 9. That left applications at their highest point since mid-February.

Also, more expensive gas, cars and furniture pushed wholesale prices higher last month.

The Labor Department says the Producer Price Index, which measures price changes before they reach the consumer, rose 0.7 per cent in March. That’s down from 1.6 per cent in February.

The Dow Jones industrial average lost 53.2 points to 12,217.79.

The Nasdaq composite index fell 19.18 points to 2,742.34 while the S&P 500 slipped 7.08 points to 1,307.33.

In earnings news, Corus Entertainment Inc., (TSX:CJR.B) which owns specialty television and radio operations across Canada, said that quarterly net income rose to $31.6 million or 38 cents per share. That compares with $14.6 million or 18 cents per share a year ago. Overall revenues increased to $191.1 million from $177.5 million and Corus shares gained 14 cents to $21.19.

Astral Media Inc. (TSX:ACM.A) said quarterly net income increased three per cent to $34.8 million. Revenue increased seven per cent to $232.7 million. The Montreal-based operator of pay and specialty television, radio, out-of-home advertising and digital media properties also said its annual dividend would increase to 75 cents on all class A and class B shares and its shares were unchanged at $37.20.

In other Canadian corporate news, Cinram International Income Fund (TSX:CRW.UN) has renewed its DVD manufacturing contract with 20th Century Fox Home Entertainment under a multi-year agreement.

The company did not disclose financial details of the agreement and did not specify how long the extended contract could last and its units fell three cents to 83 cents.

Investors will also be keeping a close watch on the latest batch of corporate earnings out of the U.S., including results from Google Inc. So far, results have been mixed, though JPMorgan Chase & Co. offered some encouragement Wednesday with a forecast-busting rise in earnings.

Meanwhile, Hasbro Inc. said Thursday its first-quarter profit tumbled 71 per cent to US$17.2 million as weakness persisted in games, puzzles and several other product lines and the toy company invested in new product development and staffing its joint-venture TV station

Traders also looked to China amid concerns that consumer price data to be released on Friday will be higher than anticipated and prompt further policy tightening from the People’s Bank. The bank has already raised interest rates four times since last October to keep a lid on price gains.

First quarter Chinese economic growth, also due to be reported Friday, is expected to ease from the previous quarter’s 9.8 per cent.

Earlier in Asia, Tokyo’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi rose 0.9 per cent and Hong Kong’s Hang Seng index was down 0.5 per cent.

China’s benchmark Shanghai Composite Index ended 0.3 per cent lower.

London’s FTSE 100 index lost 0.92 per cent, Frankfurt’s DAX was off 0.79 per cent while the Paris CAC 40 gave back 1.07 per cent.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###Resource, financial stocks pull TSX lower amid falling prices for oil, copper – Dominion Lending Centres Clearlease Reports

TORONTO – (April 14, 2011) Dominion Lending Centres Clearlease Reports the Toronto stock market was negative Thursday as commodity prices headed lower amid worries about rising inflation.

The S&P/TSX composite index lost 44.45 points to 13,789.19 while the TSX Venture Exchange added 0.22 of a point to 2,301.89.

Falling oil prices and data showing a bigger than expected drop in manufacturing shipments pushed the Canadian dollar down 0.36 of a cent to 103.55 cents US.

Statistics Canada reported that manufacturing sales fell 1.5 per cent in February to $47.1 billion, a steeper decline than the 0.1 per cent expected by economists. The showing followed a 4.4 per cent gain in January.

The TSX energy sector fell almost one per cent as oil prices continued to head lower with the May contract on the New York Mercantile Exchange down 28 cents to US$106.83.

Prices had increased Wednesday in the wake of data showing a bigger than expected drop in U.S. gasoline inventories last week. But crude has rapidly come off a recent 2 1/2 year high of almost US$113 a barrel after Goldman Sachs warned investors Monday that crude oil prices were due for a “substantial pullback” after surging about 30 per cent since mid-February as the market responded to a civil war in Libya and unrest in other Mideast countries.

Suncor Energy (TSX:SU) declined 47 cents to $41.62 and Cenovus Energy (TSX:CVE) slipped 51 cents to $35.83.

Demand concerns pressured copper prices for a fourth session as the May contract on the Nymex shed two cents to US$4.27 a pound. The base metals sector lost 0.7 per cent as Teck Resources (TSX:TCK.B) stepped back 38 cents to $50.52 and Quadra FNX (TSX:QUX) lost 14 cents to $13.77.

Financials were also a drag with Scotiabank (TSX:BNS) down 43 cents to $57.35.

The gold sector was the leading advancer while the June contract in New York climbed $5.10 to US$1,460.70 an ounce. Barrick Gold Corp. (TSX:ABX) rose 59 cents to $50.74 while Goldcorp Inc. (TSX:G) improved by 58 cents to $51.23.

The Toronto market has racked up big, triple digit losses in two out of three sessions this week as investors take profits from a strong series of gains amid worries that high prices for commodities are fuelling inflation.

The European Central Bank has already joined the People’s Bank of China in lifting rates to combat inflation and the fear in the markets is that the U.S. Federal Reserve will end up tightening policy sooner than anticipated.

On Wednesday, the Fed’s latest monthly economic assessment, known as the Beige Book showed that rising commodity costs were ratcheting up price pressures.

New York markets were also lower amid data showing that applications for unemployment benefits rose 27,000 to a seasonally adjusted 412,000 for the week ended April 9. That left applications at their highest point since mid-February.

Also, more expensive gas, cars and furniture pushed wholesale prices higher last month.

The Labor Department says the Producer Price Index, which measures price changes before they reach the consumer, rose 0.7 per cent in March. That’s down from 1.6 per cent in February.

The Dow Jones industrial average lost 53.2 points to 12,217.79.

The Nasdaq composite index fell 19.18 points to 2,742.34 while the S&P 500 slipped 7.08 points to 1,307.33.

In earnings news, Corus Entertainment Inc., (TSX:CJR.B) which owns specialty television and radio operations across Canada, said that quarterly net income rose to $31.6 million or 38 cents per share. That compares with $14.6 million or 18 cents per share a year ago. Overall revenues increased to $191.1 million from $177.5 million and Corus shares gained 14 cents to $21.19.

Astral Media Inc. (TSX:ACM.A) said quarterly net income increased three per cent to $34.8 million. Revenue increased seven per cent to $232.7 million. The Montreal-based operator of pay and specialty television, radio, out-of-home advertising and digital media properties also said its annual dividend would increase to 75 cents on all class A and class B shares and its shares were unchanged at $37.20.

In other Canadian corporate news, Cinram International Income Fund (TSX:CRW.UN) has renewed its DVD manufacturing contract with 20th Century Fox Home Entertainment under a multi-year agreement.

The company did not disclose financial details of the agreement and did not specify how long the extended contract could last and its units fell three cents to 83 cents.

Investors will also be keeping a close watch on the latest batch of corporate earnings out of the U.S., including results from Google Inc. So far, results have been mixed, though JPMorgan Chase & Co. offered some encouragement Wednesday with a forecast-busting rise in earnings.

Meanwhile, Hasbro Inc. said Thursday its first-quarter profit tumbled 71 per cent to US$17.2 million as weakness persisted in games, puzzles and several other product lines and the toy company invested in new product development and staffing its joint-venture TV station

Traders also looked to China amid concerns that consumer price data to be released on Friday will be higher than anticipated and prompt further policy tightening from the People’s Bank. The bank has already raised interest rates four times since last October to keep a lid on price gains.

First quarter Chinese economic growth, also due to be reported Friday, is expected to ease from the previous quarter’s 9.8 per cent.

Earlier in Asia, Tokyo’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi rose 0.9 per cent and Hong Kong’s Hang Seng index was down 0.5 per cent.

China’s benchmark Shanghai Composite Index ended 0.3 per cent lower.

London’s FTSE 100 index lost 0.92 per cent, Frankfurt’s DAX was off 0.79 per cent while the Paris CAC 40 gave back 1.07 per cent.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###



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