Dominion Lending Centres Clearlease Reports TSX up as rising oil prices lift energy companies, BMO turns in solid earnings

Dominion Lending Centres Clearlease Reports TSX up as rising oil prices lift energy companies, BMO turns in solid earnings

VANCOUVER, BC (May 25, 2011) Clearlease Reports The Toronto stock market was higher Wednesday as signs of greater demand lifted oil prices and energy stocks while Bank of Montreal delivered a solid earnings report Wednesday May 25, 2011.

The S&P /TSX composite index was up 89.73 points to 13,684.85 while the TSX Venture Exchange gained 9.14 points to 2,036.21.

The Canadian dollar was lower against the American currency, down 0.16 of a US cent to 102.29 cents US.

Bank of Montreal (TSX:BMO) reported its second-quarter profits rose $55 million to $800 million. The results were equivalent to adjusted earnings of $1.35 per share, four cents ahead of analyst expectations collected by Thomson Reuters.

Quarterly revenue increased to $3.21 billion, below expectations of $3.25 billion, but ahead of the $3.04 billion reported a year earlier. Its shares rose 42 at $61.92.

“There are the core bank earnings, which were quite good and were definitely helped by the decline in loan losses, which is a very good thing,” said Chris Kuflik, wealth advisor with ScotiaMcLeod in Montreal.

“On the other side, the trading revenues, which are often a driver of earnings growth, and usually the most volatile component, is not doing that well right now. In market like this, it’s very difficult.”

Oil prices turned positive after data showed that U.S. crude inventories rose much less than expected last week. The Energy Information Administration said oil inventories rose 600,000 barrels against expectations of a 1.6 million barrel jump.

At the same time, gasoline inventories were up 3.8 million barrels while analysts had expected supplies to rise by 750,000 barrels.

The July crude contract on the New York Mercantile Exchange gained 18 cents to US$99.77 a barrel and the energy sector was up 0.63 per cent. Suncor Energy (TSX:SU) climbed 42 cents to $39.99 while Talisman Energy rose 36 cents to C$20.18.

Oil received a boost Tuesday after Goldman Sachs , J.P. Morgan and Morgan Stanley said prices will rise later this year as the Libya conflict hits global supply.

Mining stocks advanced as metal prices gained ground with the July copper contract on the New York Mercantile Exchange ahead 10 cents to US$4.11 a pound. The base metals sector rose 1.08 per cent as Teck Resources (TSX:TCK.B) rose 96 cents to $48.20 while Quadra FNX Mining (TSX:QUX) was up 24 cents to $15.

The gold sector was also higher as rising worries about the European government debt crisis helped send bullion prices higher for a fourth day. The June gold contract in New York gained $3.30 to US$1,526.60 an ounce and Barrick Gold Corp. (TSX:ABX) climbed 23 cents to $45.86 while Kinross Gold Corp. (TSX:K) gained 17 cents to $15.

The telecom sector was the leading decliner, down 0.26 per cent as Rogers Communications (TSX:RCI.B) gave back 16 cents to $37.17 while BCE Inc. (TSX:BCE) slipped 13 cents to $38.48.

Despite the positive showing on the TSX, investors are cautious given a broad range of concerns, including that the global economy is faltering and that Europe’s debt crisis is deepening.

Greece continues to be the main driver of European debt concerns, even more so after meetings Tuesday indicated a lack of consensus between the government and the opposition.

Many investors think that Greece will eventually have to restructure its debts in some form.

“For a long time what effectively happened is we had the issue, the issue started to calm down a little bit as the can got kicked further down the road with the hopes of, if we throw money at it, it will get better,’ added Kuflik.

New York markets were higher even as traders worried about a slowing of the global economy also took in some dismal American data. U.S. durable goods orders dropped 3.6 per cent in April, worse than the 2.4 per cent drop that analysts had expected.

The Dow Jones industrial average gained 29.78 points to 12,385.99.

The Nasdaq composite index rose 10.48 points to 2,756.64 while the S&P 500 index was up 3.32 points to 1,319.6.

In other corporate news, Tim Hortons (TSX:THI) stock was down 42 cents to $45.41 as the company announced that president and CEO Don Schroeder has left the company effective immediately. In the meantime, executive chairman Paul House, who has previously held the position of president and CEO, will once again take on the role on an interim basis

It could take up to a week for Cenovus Energy (TSX:CVE) to get its Pelican Lake crude flowing at full speed once a key northern Alberta pipeline returns to service after being shut down due to forest fires in the region. Cenovus normally produces about 22,000 barrels of oil per day at Pelican Lake but shut down production last Thursday. Cenovus shares slipped six cents to $34.09.

Shares in forest plantation operator Sino-Forest Corp. (TSX:TRE) gained 33 cents to C$19.21 after it said there have been no corporate developments that would explain a recent slump in the price of its stock. The Toronto-based forestry firm, which operates large timber stands in China, saw its shares slide seven per cent on Tuesday to close at $18.88 after four per cent slide on Friday.

The board of toymaker Mega Brands Inc. (TSX:MB) has approved a one-for-20 consolidation of its issued and outstanding common shares. Its shares were down 1.5 cents to 48 cents.

In overseas trading, South Korea ’s Kospi sank 1.3 per cent, Australia’s S&P/ASX 200 lost one per cent and Hong Kong ’s Hang Seng was up 0.1 per cent.

Video Link: http://youtu.be/f_kk7WJa7Uk

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.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

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. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports TSX up as rising oil prices lift energy companies, BMO turns in solid earnings

VANCOUVER, BC (May 25, 2011) Clearlease Reports The Toronto stock market was higher Wednesday as signs of greater demand lifted oil prices and energy stocks while Bank of Montreal delivered a solid earnings report Wednesday May 25, 2011.

The S&P /TSX composite index was up 89.73 points to 13,684.85 while the TSX Venture Exchange gained 9.14 points to 2,036.21.

The Canadian dollar was lower against the American currency, down 0.16 of a US cent to 102.29 cents US.

Bank of Montreal (TSX:BMO) reported its second-quarter profits rose $55 million to $800 million. The results were equivalent to adjusted earnings of $1.35 per share, four cents ahead of analyst expectations collected by Thomson Reuters.

Quarterly revenue increased to $3.21 billion, below expectations of $3.25 billion, but ahead of the $3.04 billion reported a year earlier. Its shares rose 42 at $61.92.

“There are the core bank earnings, which were quite good and were definitely helped by the decline in loan losses, which is a very good thing,” said Chris Kuflik, wealth advisor with ScotiaMcLeod in Montreal.

“On the other side, the trading revenues, which are often a driver of earnings growth, and usually the most volatile component, is not doing that well right now. In market like this, it’s very difficult.”

Oil prices turned positive after data showed that U.S. crude inventories rose much less than expected last week. The Energy Information Administration said oil inventories rose 600,000 barrels against expectations of a 1.6 million barrel jump.

At the same time, gasoline inventories were up 3.8 million barrels while analysts had expected supplies to rise by 750,000 barrels.

The July crude contract on the New York Mercantile Exchange gained 18 cents to US$99.77 a barrel and the energy sector was up 0.63 per cent. Suncor Energy (TSX:SU) climbed 42 cents to $39.99 while Talisman Energy rose 36 cents to C$20.18.

Oil received a boost Tuesday after Goldman Sachs , J.P. Morgan and Morgan Stanley said prices will rise later this year as the Libya conflict hits global supply.

Mining stocks advanced as metal prices gained ground with the July copper contract on the New York Mercantile Exchange ahead 10 cents to US$4.11 a pound. The base metals sector rose 1.08 per cent as Teck Resources (TSX:TCK.B) rose 96 cents to $48.20 while Quadra FNX Mining (TSX:QUX) was up 24 cents to $15.

The gold sector was also higher as rising worries about the European government debt crisis helped send bullion prices higher for a fourth day. The June gold contract in New York gained $3.30 to US$1,526.60 an ounce and Barrick Gold Corp. (TSX:ABX) climbed 23 cents to $45.86 while Kinross Gold Corp. (TSX:K) gained 17 cents to $15.

The telecom sector was the leading decliner, down 0.26 per cent as Rogers Communications (TSX:RCI.B) gave back 16 cents to $37.17 while BCE Inc. (TSX:BCE) slipped 13 cents to $38.48.

Despite the positive showing on the TSX, investors are cautious given a broad range of concerns, including that the global economy is faltering and that Europe’s debt crisis is deepening.

Greece continues to be the main driver of European debt concerns, even more so after meetings Tuesday indicated a lack of consensus between the government and the opposition.

Many investors think that Greece will eventually have to restructure its debts in some form.

“For a long time what effectively happened is we had the issue, the issue started to calm down a little bit as the can got kicked further down the road with the hopes of, if we throw money at it, it will get better,’ added Kuflik.

New York markets were higher even as traders worried about a slowing of the global economy also took in some dismal American data. U.S. durable goods orders dropped 3.6 per cent in April, worse than the 2.4 per cent drop that analysts had expected.

The Dow Jones industrial average gained 29.78 points to 12,385.99.

The Nasdaq composite index rose 10.48 points to 2,756.64 while the S&P 500 index was up 3.32 points to 1,319.6.

In other corporate news, Tim Hortons (TSX:THI) stock was down 42 cents to $45.41 as the company announced that president and CEO Don Schroeder has left the company effective immediately. In the meantime, executive chairman Paul House, who has previously held the position of president and CEO, will once again take on the role on an interim basis

It could take up to a week for Cenovus Energy (TSX:CVE) to get its Pelican Lake crude flowing at full speed once a key northern Alberta pipeline returns to service after being shut down due to forest fires in the region. Cenovus normally produces about 22,000 barrels of oil per day at Pelican Lake but shut down production last Thursday. Cenovus shares slipped six cents to $34.09.

Shares in forest plantation operator Sino-Forest Corp. (TSX:TRE) gained 33 cents to C$19.21 after it said there have been no corporate developments that would explain a recent slump in the price of its stock. The Toronto-based forestry firm, which operates large timber stands in China, saw its shares slide seven per cent on Tuesday to close at $18.88 after four per cent slide on Friday.

The board of toymaker Mega Brands Inc. (TSX:MB) has approved a one-for-20 consolidation of its issued and outstanding common shares. Its shares were down 1.5 cents to 48 cents.

In overseas trading, South Korea ’s Kospi sank 1.3 per cent, Australia’s S&P/ASX 200 lost one per cent and Hong Kong ’s Hang Seng was up 0.1 per cent.

Video Link: http://youtu.be/f_kk7WJa7Uk

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.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

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. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk


Dominion Lending Centres Clearlease Reports TSX up as rising oil prices lift energy companies, BMO turns in solid earnings

VANCOUVER, BC (May 25, 2011) Clearlease Reports The Toronto stock market was higher Wednesday as signs of greater demand lifted oil prices and energy stocks while Bank of Montreal delivered a solid earnings report Wednesday May 25, 2011.

The S&P /TSX composite index was up 89.73 points to 13,684.85 while the TSX Venture Exchange gained 9.14 points to 2,036.21.

The Canadian dollar was lower against the American currency, down 0.16 of a US cent to 102.29 cents US.

Bank of Montreal (TSX:BMO) reported its second-quarter profits rose $55 million to $800 million. The results were equivalent to adjusted earnings of $1.35 per share, four cents ahead of analyst expectations collected by Thomson Reuters.

Quarterly revenue increased to $3.21 billion, below expectations of $3.25 billion, but ahead of the $3.04 billion reported a year earlier. Its shares rose 42 at $61.92.

“There are the core bank earnings, which were quite good and were definitely helped by the decline in loan losses, which is a very good thing,” said Chris Kuflik, wealth advisor with ScotiaMcLeod in Montreal.

“On the other side, the trading revenues, which are often a driver of earnings growth, and usually the most volatile component, is not doing that well right now. In market like this, it’s very difficult.”

Oil prices turned positive after data showed that U.S. crude inventories rose much less than expected last week. The Energy Information Administration said oil inventories rose 600,000 barrels against expectations of a 1.6 million barrel jump.

At the same time, gasoline inventories were up 3.8 million barrels while analysts had expected supplies to rise by 750,000 barrels.

The July crude contract on the New York Mercantile Exchange gained 18 cents to US$99.77 a barrel and the energy sector was up 0.63 per cent. Suncor Energy (TSX:SU) climbed 42 cents to $39.99 while Talisman Energy rose 36 cents to C$20.18.

Oil received a boost Tuesday after Goldman Sachs , J.P. Morgan and Morgan Stanley said prices will rise later this year as the Libya conflict hits global supply.

Mining stocks advanced as metal prices gained ground with the July copper contract on the New York Mercantile Exchange ahead 10 cents to US$4.11 a pound. The base metals sector rose 1.08 per cent as Teck Resources (TSX:TCK.B) rose 96 cents to $48.20 while Quadra FNX Mining (TSX:QUX) was up 24 cents to $15.

The gold sector was also higher as rising worries about the European government debt crisis helped send bullion prices higher for a fourth day. The June gold contract in New York gained $3.30 to US$1,526.60 an ounce and Barrick Gold Corp. (TSX:ABX) climbed 23 cents to $45.86 while Kinross Gold Corp. (TSX:K) gained 17 cents to $15.

The telecom sector was the leading decliner, down 0.26 per cent as Rogers Communications (TSX:RCI.B) gave back 16 cents to $37.17 while BCE Inc. (TSX:BCE) slipped 13 cents to $38.48.

Despite the positive showing on the TSX, investors are cautious given a broad range of concerns, including that the global economy is faltering and that Europe’s debt crisis is deepening.

Greece continues to be the main driver of European debt concerns, even more so after meetings Tuesday indicated a lack of consensus between the government and the opposition.

Many investors think that Greece will eventually have to restructure its debts in some form.

“For a long time what effectively happened is we had the issue, the issue started to calm down a little bit as the can got kicked further down the road with the hopes of, if we throw money at it, it will get better,’ added Kuflik.

New York markets were higher even as traders worried about a slowing of the global economy also took in some dismal American data. U.S. durable goods orders dropped 3.6 per cent in April, worse than the 2.4 per cent drop that analysts had expected.

The Dow Jones industrial average gained 29.78 points to 12,385.99.

The Nasdaq composite index rose 10.48 points to 2,756.64 while the S&P 500 index was up 3.32 points to 1,319.6.

In other corporate news, Tim Hortons (TSX:THI) stock was down 42 cents to $45.41 as the company announced that president and CEO Don Schroeder has left the company effective immediately. In the meantime, executive chairman Paul House, who has previously held the position of president and CEO, will once again take on the role on an interim basis

It could take up to a week for Cenovus Energy (TSX:CVE) to get its Pelican Lake crude flowing at full speed once a key northern Alberta pipeline returns to service after being shut down due to forest fires in the region. Cenovus normally produces about 22,000 barrels of oil per day at Pelican Lake but shut down production last Thursday. Cenovus shares slipped six cents to $34.09.

Shares in forest plantation operator Sino-Forest Corp. (TSX:TRE) gained 33 cents to C$19.21 after it said there have been no corporate developments that would explain a recent slump in the price of its stock. The Toronto-based forestry firm, which operates large timber stands in China, saw its shares slide seven per cent on Tuesday to close at $18.88 after four per cent slide on Friday.

The board of toymaker Mega Brands Inc. (TSX:MB) has approved a one-for-20 consolidation of its issued and outstanding common shares. Its shares were down 1.5 cents to 48 cents.

In overseas trading, South Korea ’s Kospi sank 1.3 per cent, Australia’s S&P/ASX 200 lost one per cent and Hong Kong ’s Hang Seng was up 0.1 per cent.

Video Link: http://youtu.be/f_kk7WJa7Uk

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.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

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. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk




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