Canadian stocks were extending losses for a second straight session Wednesday morning amid steady commodities and mixed cues from the global equity markets. Concerns about the future of the stimulus program continued to weigh on trader sentiment.
The S&P/TSX Composite Index shed 46.71 points or 0.38 percent to 12,176.85, after losing over 150 points or 1 percent in the previous session.
Dollar store operator Dollarama Inc. (DOL.TO) lost over 4 percent after posting higher first-quarter net earnings of C$45.6 million or C$0.62 per share compared with C$42.6 million or C$0.56 per share a year before. Analysts expected earnings per share of C$0.67 for the quarter.
Latest data from the EIA revealed that US crude oil inventories moved up 2.5 million barrels and gasoline stocks were up 2.70 million barrels in the weekended June 07. Earlier today the IEA maintained oil demand projection at 90.6 mbd for 2013, despite projecting higher through-puts in the third quarter 2013.
Crude for July added $0.30 to $95.68 a barrel.
In the oil patch, Vermilion Energy (VET.TO) and Suncor Energy (SU.TO) were down around 1 percent each.
Meanwhile gold stocks moved up amid a rebound in bullion prices. The price of gold was recovering from its three-week low Wednesday morning, with gold for August adding $13.80 to $1,390.80 an ounce.
Among gold plays, Agnico-Eagle Mines (AEM.TO), Barrick Gold (ABX.TO) and Seabridge Gold (SEA.TO) were up over 3 percent each.
E-commerce solutions provider Mediagrif Interactive Technologies (MDF.TO) rose about 4 percent after reporting improved net income for the fourth quarter of C$3.4 million or C$0.22 per share compared to C$2.6 million or C$0.19 per share for the year-ago quarter. Analysts expected the company to earn C$0.24 per share for the fourth quarter. Further, the company declared a quarterly dividend of C$0.10 per share.
In economic news, euro zone industrial production grew 0.4 percent in April from a month ago, largely due to higher output of capital goods and non-durable consumer goods, data from Eurostat revealed. Industrial output was forecast to remain flat after rising 0.9 percent in March.
Germany's EU harmonized inflation accelerated in May, but to a lesser extent than initially estimated, final data released by the Federal Statistical Office showed. Inflation as per the harmonized index of consumer prices rose to 1.6 percent in May from 1.1 percent in April. The flash estimates were for an inflation rate of 1.7 percent.
The number of people claiming unemployment benefits in the U.K. decreased by 8,600 in May from April, the Office for National Statistics reported. The decline was sharper than the expected drop of 5,000.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.