Loonie, TSX continue descent following Brexit vote + MORE Jun 27th

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Some of the most active companies traded Monday on the Toronto Stock Exchange:
Toronto Stock Exchange (13,689.79, down 202.09 points):
Bombardier Inc. (TSX:BBD.B). Aerospace, rail equipment. Down 14 cents, or 7.18 per cent, to $1.81 on 12.6 million shares.
B2Gold Corp. (TSX:BTO). Miner. Up 16 cents, or 5.13 per cent, to $3.28 on 12.1 million shares.
Manulife Financial Corp. (TSX:MFC). Financial Services. Down 88 cents, or 5.07 per cent, to $16.47 on 10.2 million shares.
Kinross Gold Corp. (TSX:K). Miner. Up eight cents, or 1.20 per cent, to $6.74 on 8.8 million shares.
Eldorado Gold Corp. (TSX:ELD). Miner. Up 11 cents, or 1.92 per cent, to $5.84 on 7.9 million shares.
Baytex Energy Corp. (TSX:BTE). Oil and gas. Down 45 cents, or 6.38 per cent, to $6.60 on 7.7 million shares.
Companies reporting major news:
SNC-Lavalin Group Inc. (TSX:SNC). Engineering. Down 67 cents, or 1.28 per cent, to $51.73 on 316,292 shares. Ontario Power Generation has awarded two more contracts for refurbishment work at the Darlington nuclear power plant worth a total of $392 million to a joint venture formed by SNC-Lavalin and the Aecon Group…

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TORONTO – The Canadian dollar is continuing its descent as markets around the world continue to take stock of last week’s Brexit vote.
The loonie began the week at 76.63 cents US in early morning trading shortly after North American stock markets opened, down 0.3 of a cent from Friday’s close.
On Friday, Canada’s dollar fell 1.37 U.S. cents to 76.93 cents US.
5 questions you probably have about Brexit »
The Toronto Stock Exchange’s S&P/TSX index fell 103.45 points to 13,788.43 in the first 10 minutes of trading this morning following a 239.50 point decline on Friday.
The Dow Jones industrial average dropped 209.69 points at 17,190.17, the broader S&P 500 composite index declined 23.68 points to 2,013.73 and the Nasdaq composite fell 60.92 points to 4,647.06.
The August crude contract was down $1 at US$46.64 per barrel and August natural gas was up five cents at US$2.74 per mmBTU. August gold rose $7 to US$1,329.40 an ounce and July copper contracts rose one cent to US$2…

Continue Reading On moneysense.ca »

Brexit update: Turmoil, pressure, and a coup attemptParty leader Jeremy Corbyn, 28 September, 2015. (Toby Melville, Reuters)
LONDON — Britain’s shocking decision to remove itself from the European Union brought more political turmoil Sunday as Scotland’s leader threatened to block the move and the opposition Labour Party’s leader faced a coup attempt from his own legislators.
The sense of unease spread as European leaders stepped up the pressure on Britain to begin its complex exit from the 28-nation EU immediately, rather than wait several months as British Prime Minister David Cameron prefers.
The vote to leave sent the pound and global stock markets plunging. Britain’s Treasury said finance minister George Osborne would make an early morning statement Monday “to provide reassurance about financial and economic stability” before the London Stock Exchange reopens.
The leaders of the successful campaign to leave the EU stayed largely out of the public eye, as opponents accused them of lacking a plan to calm the crisis the result has triggered…

Continue Reading On macleans.ca »

Reuters CanadaTSX slides as Brexit hits banks, energy shares fall with oilReuters CanadaTORONTO (Reuters) – Canada's benchmark stock index ended almost 1.5 percent lower on Monday, at its lowest close in seven weeks, as the fallout from Britain's vote to leave the European Union pummeled financial stocks and energy shares fell with …Canadian dollar continues to drop after BrexitCTV NewsTSX mixed after Brexit, June 20–24The Northern Miner (subscription)CANADA STOCKS-TSX falls as Brexit tumult grows, financials take bruntDaily MailThe Motley Fool Canada -Investing.com -Reuters -Zergwatchall 15 news articles »

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George Osborne on Brexit: ‘We were prepared for unexpected’An employee works at a foreign exchange brokerage in Tokyo, Japan, on Friday, June 24, 2016.  (Tomohiro Ohsumi/Bloomberg/Getty Images)
LONDON — Britain’s Treasury chief sought Monday to ease concerns about the vote to leave the European Union, saying the economy is as strong as it could be to face the uncertainty — even as a survey showed many companies are looking to move business out of the country.
In his first public appearance since Thursday’s referendum, George Osborne stressed that Britain’s economy is in a far better position than it was at the start of the 2008 financial crisis.
“It will not be plain sailing in the days ahead,” he said. “But let me be clear. You should not underestimate our resolve. We were prepared for the unexpected.”
The leaders of Germany, Italy and France will be huddling in Berlin to discuss the vote, trying to hone a common message that negotiations need to get underway quickly on the exit so as not to continue the uncertainty…

Continue Reading On macleans.ca »

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