Stocks Roughed up to End Week

It was an ugly end to an ugly week for equities on both sides of the border in North America, as energy stocks took a hit and investors foresaw higher interest rates starting next week.

The S&P/TSX Composite fell sharply by Friday’s closing bell, 436.79 points, or 2.1%, to 20,621.39, for a loss on the week of 736 points, or 3.45%.

The Canadian dollar slumped 0.49 cents at 79.50 cents U.S.

Energy stocks wore the largest collars, with Birchcliff Energy sliding 41 cents, or 6.7%, to $5.68, while Vermilion Energy weakened a dollar, or 5.3%, to $18.02.

Tech issues took a wallop, too, as Shopify was bruised $169.58, or 13.2%, to $1,112.61, HUT 8 Mining was stricken 96 cents, or 12.3%, to $6.82.

In resource stocks, Turquoise Hill retreated $1.80, or 8.5%, to $19.49, while MAG Silver doffed $1.43, or 7%, to $19.07.

On the economic calendar, Statistics Canada reported … Read more

Britishvolt gets £100m boost to build UK’s first large-scale ‘gigafactory’

The UK government will invest £100m in Britishvolt as the car battery manufacturing startup seeks to build Britain’s first large-scale “gigafactory” in the north-east of England.

The government’s Automotive Transformation Fund will invest alongside asset management company Abrdn and its majority-owned property investment arm, Tritax, to fund a sale and leaseback deal for the huge building that will house the electric car battery factory, near Blyth in Northumberland.

Peter Rolton, Britishvolt’s executive chairman, said: “The UK automotive industry needs a local source of batteries. Chinese or other Asian imports are not going to be an option. There will be very, very significant shortfalls of batteries. We are absolutely vital to maintain the UK industry and support those jobs.”

Britishvolt is one of two major UK battery manufacturing projects that has secured funding, alongside an expansion of an existing plant at Sunderland owned by China’s Envision that supplies to Nissan.

The … Read more

Home-owner’s Insurance coverage Guide

Due to the excessive costs of manufacturing, advertising and distribution of hand sanitizers, giant corporations dominate the hand sanitizer manufacturing industry. Manpower you need on your hand sanitizer business plan.

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If you are concerned in life insurance sales you perceive the significance of insurance coverage leads. The chacha had soused me something good. I used to be feeling the irrigating pangs of conscience. When it was my turn, I raised my glass and appeared around the table, making deliberate eye contact with those I would come to contemplate pals. I understood then that YPT’s 5-star scores came from individuals who weren’t score the corporate, per se, however who had been score their group. Their camaraderie, the time that they had collectively. The umbrella coverage for animal grooming and care will enhance liability limits on all underlining liability insurance policies, together with auto liability, common legal responsibility and … Read more

Bank Rate Decision due Next Week



Economic Lookahead

Markit manufacturing Purchasing Managers Index (flash) (Jan.)

Markit services PMI (flash) (Jan.)

Featured Earnings

International Business Machines Corp (NYSE:IBM) (Q4) EPS projects for $3.55, compared to $2.07 in the prior-year quarter.

Southern Copper Corporation (NASDAQ:SCCO) (Q4) EPS projects for $1.18, compared to 76 cents in the prior-year quarter.

Royal Phillips (NYSE: PHG (Q4) EPS projects for $1.55, compared to $1.12 in the prior-year quarter.


Featured Earnings

Canada Nickel Company Inc. (T.CNC) (Q4) EPS projects for loss of two cents, compared to loss of three cents in the prior-year quarter.



Economic Lookahead

S&P Case-Shiller national home price index (Nov.)

FHFA national home price index (Nov.)

Consumer confidence index (Nov.)

Featured Earnings

Microsoft Corp. (NASDAQ:MSFT) (Q2) EPS projects for 85 cents, compared to 74 cents in the prior-year quarter.

Johnson & Johnson (NYSE:JNJ) (Q1) EPS projects for $2.12, compared to $1.86 in the prior-year quarter.… Read more