加拿大华人论坛 加拿大百科Canadian Stocks Drop for a 2nd Week on U.S. Growth Concerns

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By John Kipphoff Dec. 22 (Bloomberg) -- Canadian stocks had a second straight weekly decline, paring the Standard & Poor's/TSX Composite Index's gain for the year to 13 percent, on concern that a cooling U.S. economy will curb demand for Canadian exports. Financial and industrial shares including Manulife Financial Corp. and Canadian National Railway Co. fell. Energy stocks such as EnCana Corp. declined along with crude oil prices. Research In Motion Ltd. fell even after reporting earnings that beat analysts' estimates. Prospects for the Canadian market depend on how much the U.S. economy is dragged down as the housing market extends a slump, said Marc Lalonde, who oversees $1.1 billion at Louisbourg Investments Inc. in Moncton, New Brunswick. Prices of energy and other commodities will be another swing factor in the market. ``We've had a good run this year,'' he said. ``You have to watch housing,'' though, because raw materials such as copper for construction ``account for almost 45 percent of the Canadian market.'' The Standard & Poor's/TSX Composite Index retreated 19.04, or 0.2 percent, to 12,718.17 in Toronto, slipping for a fifth day in six. The index has dropped 1.2 percent since Dec. 15. The benchmark hadn't declined for two consecutive weeks since September. U.S. durable goods orders, excluding transportation equipment, fell 1.1 percent in November, the Commerce Department said today. The retreat follows a 1.6 percent decline in October. It followed a report yesterday showing that growth in the U.S. cooled to the slowest pace this year in the third quarter, dragged down by the biggest decline in home building in 15 years. Economy Stalls The Canadian economy stalled in October, failing to grow in two straight months for the first time since April 2003, as manufacturing and consumer spending declined, Statistics Canada said. Exports accounted for 38 percent of Canada's $1 trillion economy last year, and 84 percent of the country's merchandise exports went to the U.S., the trade department said in June. Commodities comprise more than half of the exports. Financial shares, seen as a proxy for the economy, slid a second day, losing 0.2 percent. They account for almost a third of the S&P/TSX's value. Manulife Financial Corp., Canada's biggest insurer, declined 22 cents to C$38.95. Royal Bank of Canada, the country's biggest lender, retreated 27 cents to C$54.70. Industrial shares, which are among the most closely tied to economic growth, dropped 0.7 percent. Canadian National Railway, the country's biggest railroad, lost 51 cents to C$49.60. Smaller rival Canadian Pacific Railway Ltd. fell 74 cents to C$60.43. A gauge of energy stocks was down 0.2 percent. Oil Declines Crude oil for February delivery closed 0.4 percent lower at $62.41 a barrel in New York, as Nigerian militants stepped up attacks on Western oil companies and mild U.S. weather curbed heating-fuel consumption. EnCana, Canada's largest natural-gas company, dropped 74 cents to C$54.11. Suncor Energy Inc., the world's second-biggest oil- sands miner, declined 86 cents at C$90.05. TransCanada Corp., the country's biggest pipeline company, fell 69 cents at C$40.08, after it agreed to buy pipeline and storage assets from El Paso Corp. for $3.4 billion. Shares of energy and materials and companies together account for more than two-fifths of the Canadian stock benchmark's value. Research In Motion, whose shares have doubled this year, today slid C$3.91 to C$150.50. Yesterday the company reported earnings that beat analysts' estimates. The company also reported its gross profit margin shrank to 64.2 percent in the third quarter, from 5.62 percent, as it sold more of his handheld e-mail devices in the consumer market, which is more competitive than the corporate sector. Trading was light ahead of the Dec. 25 and Dec. 26 Christmas holidays in Canada, when the Toronto Stock Exchange will be closed. Some 232.6 million shares changed hands, about a third less than the three-month daily average. It was the last day of 2006 to lock in gains or losses for the year. The following shares had unusual price changes. Stock symbols are in parentheses. Petrobank Energy and Resources Ltd. (PBG CN) added 54 cents, or 3.3 percent, to C$16.74. The oil and gas explorer adopted a plan that allows shareholders to buy stock at a discount to discourage unsolicited takeover bids. Calgary-based Petrobank said in a statement that it's not aware of any pending bids. TLC Vision Corp. (TLC CN) gained 33 cents, or 5.6 percent, to C$6.20. The operator of laser eye-surgery centers rose to a four- month high after a Boston-based hedge fund said it may buy more shares. Sowood Capital Management LP said in a regulatory filing late yesterday it's ``seeking to engage in discussions'' with Mississauga, Ontario-based TLC and may increase its stake.

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chechecheche 说: By John Kipphoff Dec. 22 (Bloomberg) -- Canadian stocks had a second straight weekly decline, paring the Standard & Poor's/TSX Composite Index's gain for the year to 13 percent, on concern that a cooling U.S. durable goods orders, excluding transportation equipment, fell 1.1 percent in November, the Commerce Department said today. The retreat follows a 1.6 percent decline in October. The Canadian economy stalled in October, failing to grow in two straight months for the first time since April 2003, Manulife Financial Corp., Canada's biggest insurer, declined 22 cents to C$38.95. Royal Bank of Canada, the country's biggest lender, retreated 27 cents to C$54.70. Canadian National Railway, the country's biggest railroad, lost 51 cents to C$49.60. Smaller rival Canadian Pacific Railway Ltd. fell 74 cents to C$60.43. A gauge of energy stocks was down 0.2 percent. Oil Declines EnCana, Canada's largest natural-gas company, dropped 74 cents to C$54.11. Suncor Energy Inc., the world's second-biggest oil- sands miner, declined 86 cents at C$90.05. TransCanada Corp., the country's biggest pipeline company, fell 69 cents at C$40.08, after it agreed to buy pipeline and storage assets from El Paso Corp. for $3.4 billion. Trading was light ahead of the Dec. 25 and Dec. 26 Christmas holidays in Canada, when the Toronto Stock Exchange will be closed. Some 232.6 million shares changed hands, about a third less than the three-month daily average. It was the last day of 2006 to lock in gains or losses for the year. .点击展开...

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