June 23, 2020
  • 9:57 am Lamar’s Eckart Named 2017 Soccer Student-Athlete of the Year
  • 9:57 am No. 3 Texas A&M-Corpus Christi Wins at Home 3-1 Over No. 6 Sam Houston State
  • 9:53 am ACU’s Gerlach, SFA’s Pecot Claim Weekly Women’s Outdoor Track & Field Honors
  • 9:52 am Nicholls’ Oboh, UNO’s Lorenz Named Women’s Indoor Athletes of the Week
  • 9:23 am Spurs fans regret getting rid of Trippier after superb game against Juventus

The Toronto stock market overcame pessimism out of Europe and weaker commodity prices on Monday to end the session higher as markets around the globe weighed the outcome of the Greek elections against concerns about Spain’s debt troubles.Here are the closing numbersTSX — 11,601.13, + 76.23S&P 500 — 1,344.78, +1.94 Dow — 12,741.82, -25.35 Nasdaq — 2,895.33, –22.53 The S&P/TSX composite index moved up 76.23 points to 11,601.13, while the TSX Venture Exchange gained 8.73 points to 1,259.75.The Canadian dollar dropped 0.18 of a cent to US97.65¢.Much of the attention was focused on the outcome of the Greek election won by a party backing harsh austerity measures. That was considered a positive development, though concern then shifted towards Spain’s debt problems.Commodity prices fluctuated as both developments influenced markets.The July crude contract on the New York Mercantile Exchange was down 76¢ at US$83.27 a barrel.Gold bullion dropped $1.10 to US$1,627 an ounce while July copper edged up one cent to US$3.39 a pound.On the TSX, materials stocks rose 2.1% with Barrick Gold rising 90¢ to $41.18.Financials were on the downside, off 0.4%, with TD Bank dropping 41$ to $78.57.The outlook for the global economy appeared to be weighing slightly heavier on U.S. markets.On Wall Street, the Dow Jones industrial average was off 25.35 points at 12,741.82. The Nasdaq composite index rose 22.53 points to 2,895.33 and the S&P 500 index inched up 1.94 points to 1,344.78.The Greek election results suggested the country would not drop out of the euro currency union, a scenario that would have put severe stress on the financial system.But much of the relief faded when it became clear that Spain’s fundamental economic and fiscal problems remain huge. Spanish borrowing rates spiked Monday above levels that forced other countries to take bailouts, a sign that bond investors fear Spain will default on its debts.European stocks ended slightly higher in the afternoon. Britain’s FTSE 100 rose 0.22% while Germany’s DAX added 0.3% and France’s CAC-40 fell 0.69%.“The mind set seems to be forming that the Band-Aid approach is too little too late, and there’s not much of a concerted set of initiatives to really tackle the problem appropriately,” said Garey Aitken, director of equity research, Bissett Investment Management.“Until people see there’s really significant change coming, I think we’re just in this washing machine of a market.”In Canada, Yamana Gold Inc. announced the acquisition Monday of Extorre Gold Mines Ltd., a miner with a promising gold-silver project in Argentina for about $400-million. Yamana will pay $3.50 in cash and 0.467 of a Yamana share for each Extorre share, while also saying it plans to increase its dividend by 18 per cent. Yamana shares rose 39¢ to $16.75.Celestica Inc. said it will wind down manufacturing services for Research in Motion over the next three to six months. Celestica says it has been working with RIM as the troubled BlackBerry maker assesses its supply chain strategy. Celestica shares rose 28¢ to $7.89, while RIM stock fell 30¢ to $10.87.Chartwell Seniors Housing Real Estate Investment Trust is selling six properties in the United States for about US$165.5-million, including outstanding mortgages. Its units rose 40¢ to $9.20.Microsoft is expected to make a “major” announcement on Monday, with speculation leaning towards either a tablet computer or a system that uses an upcoming version of Windows to help people access TV shows and movies across a range of devices.Here’s the news investors were watching today:Greek vote fails to stem pain in Spain, ItalyCelestica to stop making BlackBerrys for RIMForeigners go on Canadian securities buying spree in AprilBrent oil prices fall to 17-month low on economic fearsON DECK TUESDAYECONOMIC NEWSCANADA8:30 a.m.Wholesale trade (April): Economists expect 0.2% rise UNITED STATES8:30 a.m.Housing starts (May): Economists expect 0.6% gain Building permits (May): Economists expect 1% rise CORPORATE NEWSUNITED STATESFedEx Q4 earnings: Analysts expect US$1.92 a share Adobe Systems Inc. Q2 earnings: Analysts expect 59¢ a share