TSX Hugs Unchanged Line — Canadian Commentary

OTTAWA (Alliance News) – Canadian stocks were flat Monday as the loonie continued to strengthen on despite downbeat economic data.

Canada’s wholesale sales declined 0.5% to USD61.4 billion in June following eight consecutive monthly increases. Declines were recorded in five of seven subsectors, led by the food, beverage and tobacco subsector and the motor vehicle and parts subsector.

The TSX Composite Index was virtually unchanged at 14,951, miners offset weak energy stocks.

Copper prices touched their highest in more than two years, while oil dropped below USD48 a barrel.

Transat A.T. Inc. (TRZ.TO) said it quarterly results will top expectations after a strong summer travel season.

An Ontario court has approved the settlement of a USD29.5 million class-action lawsuit by investors against alternative mortgage lender Home Capital Group Inc. (HCG.TO).

Cineplex Inc.(CGX.TO) announced a cash dividend of 14 cents.

Copyright RTT News/dpa-AFX

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