Market numbers: September 17, 2009

| North American markets | International markets | Bonds | Currency | Commodities |

The Toronto stock market could be headed for a flat open Thursday as oil and gold prices backed off slightly while investors take in data showing Canada’s annual inflation rate was firmly in negative territory in August for the third consecutive month.

Statistics Canada reported that the annual rate of inflation was negative 0.8% last month, as the relatively low cost of gasoline and energy continued to drag the consumer price index down.

That compares with the July reading of minus 0.9%, which was Canada’s lowest inflation rate in 56 years.

The Canadian dollar was off 0.09 of a cent to 93.82 cents US following the report.

U.S. futures pointed to a weak open as the Dow Jones industrial futures edged up 14 points to 9,800, the Nasdaq futures were off 0.5 of a point to 1,717.2 and the S&p 500 futures declined a point to 1,062.5.

Energy stocks are expected to be soft at the open as the October crude contract on the New York Mercantile Exchange lost 42 cents to US$72.09 a barrel. However, crude oil has surged about US$4 a barrel this week amid signs the U.S. economy, the world’s largest consumer of crude, has stopped shrinking.

Other commodity prices stepped back as the December bullion contract on the Nymex was down $2.30 to US$1,017.90 and December copper declined four cents to US$2.90 a pound.

Stock markets in Canada and the U.S. are also up smartly this week after Federal Reserve chairman Ben Bernanke said that the U.S. recession was likely over while a report on Wednesday showed industrial activity surged 0.8% in August, better than the 0.6% increase economists had forecast. The Fed also revised July’s figures to a 1% increase, twice as much as originally reported.

And Statistics Canada reported that manufacturing sales rose 5.5% in July, adding to the 2.2% increase reported in June, thanks to improved performances in the motor vehicle sector.

European and Asian stock markets extended the week’s rally on Thursday, hitting new highs for the year, as investors became increasingly confident that the U.S. economy is growing again.

London’s FTSE 100 index moved up 0.59%, Germany’s DAX rose 0.39 per cent and France’s CAC-40 increased 0.34%.

Japan’s Nikkei 225 stock average closed up 1.7% after the central bank raised its assessment of the U.S. economy and kept interest rates at 0.1% to encourage recovery.

Hong Kong’s Hang Seng gained 1.7% while China’s Shanghai benchmark rose two %.

In corporate news, Rogers Communications Inc. (TSX:RCI.B) has promoted Edward Rogers, son of the company’s late founder Ted Rogers, as part of a reorganization that will also see the cable TV, wireless, media and sports giant integrate its wireless and cable divisions. Rogers has been named deputy chairman of the company. He also becomes executive vice-president of the new and separate Emerging Business and Corporate Development group.

Manulife Financial Corp. (TSX:MFC) is buying fund manager Markland Street Asset Management Inc. Manulife said the deal allows it to expand its presence in the retail structured products area. Markland had assets under management of approximately $114 million at the end of August.

FedEx says its first-quarter earnings fell 53% to US$181 million and warned its profit will remain weak through the end of the year.

Revenue fell 20% to about US$8 billion.

Oracle Corp.’s profit rose 4% in the latest quarter, which matched analysts forecasts Wednesday. However, sales of new software licenses fell 17% to US$1 billion, which was short of expectations and showed that businesses are still being tightfisted about buying new software.

(The Canadian Press)

North American markets

Back to Top

Dow Jones	9,791.71	+108.30 or +1.12%	+11.57%
S&P 500	1,068.76	+16.13 or +1.53%	+18.32%
NASDAQ	2,133.15	+30.51 or +1.45%	+35.26%
TSX Composite	11,555.60	+59.77 or +0.52%	+28.57%

International markets

Back to Top

	Open	Change	YTD
Nikkei	10,443.80	+173.03 or +1.68%	+17.88%
Hang Seng	21,768.51	+365.59 or +1.71%	+51.30%
SENSEX	16,711.11	+34.07 or +0.20%	+73.22%
FTSE 100	5,155.77	+31.64 or +0.62%	+16.27%
CAC 40	3,830.14	+16.35 or +0.43%	+19.02%
DAX	5,727.58	+27.32 or +0.48%	+19.07%

Bonds

Back to Top

Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	103.18	103.15	3.36
Cdn. 30-year bond	119.14	118.65	3.87
U.S. 10-year bond	101.28	101.44	3.47
U.S. 30-year bond	103.84	103.84	4.25

Currency

Back to Top

BoC Open	Today	Previous
Canadian $	0.9382	0.9390
US $	1.0658	1.0649

Euro Spot Rate	Today	Previous
Canadian $	0.6374	0.6374
Euro	1.5689	1.5688

Commodities

Back to Top

Gold	AM	PM
London Gold Fix ($US)	$ 1020.50	$1015.75

Oil	Open	Change
WTI Crude Future (US)	$72.01	-$0.50 or -0.69%

(09/17/09)