TELETRADER News
6/15/2016, 4:27 PM (Source: TeleTrader)
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Canadian stocks rise, April manufacturing sales up 1%

Stock market in Toronto opened with cautions confidence on Wednesday, as the stocks around the world gained in expectations of the Fed interest rate decision.

The S&P/TSX Composite index was up 0.43% at 13,944 at 4:10 p.m. CET. Mining sector rose nearly 4%, and materials, consumer discretionary and financials contributed somewhat to the rise, while energy sector showed some weakness.

The Canadian dollar was 0.30% weaker to the U.S. dollar. The currency moved in sync with oil and other commodity prices: it fell 0.58% to the euro and lost 0.43% to the Japanese yen at 4:27 p.m. CET.

Statistics Canada reported that manufacturing sales in the country grew 1% to CA$50.4 billion in April, following two consecutive monthly declines. Volumes were 1.4% higher, but prices slipped by 0.5%. Sales were better in 10 of 21 monitored industries encompassing 55% of the manufacturing in Canada. Sales of the petroleum and coal products were 8.3% higher in April, slower than a rise of 13.4% back in March. Primary metals sales were up 3.9%. Transportation equipment sales rose 2.1% in the vast North American country, as aerospace industry flew 6.3% higher.

"Sales in the railroad rolling stock industry advanced 39.5% to $202 million, the third increase in four months," noted the Statistics Canada report.

Overall inventories edged down by 0.4%, the lowest level since December 2014. New orders were 7.9% higher in April.

Baha Breaking News (BBN) / ZR