Arbetov.ca Stock-Market News

I have the following highlights from David Taylor (Dynamic Funds) most recent Webcast presentation.

Dear Clients and Readers, I hope you are enjoying the summer and taking the time to relax and meet with family and friends. I am writing to provide you with a brief update on the financial markets, which have provided mixed results in the first six months of the year.

Hong Kong, China – Transportation links between B.C. and the Asia Pacific were further enhanced today during Premier Gordon Campbell’s mission to China as Cathay Pacific Airways announced it will add four new flights per week between Vancouver and Hong Kong, beginning March 30, 2008.

VICTORIA – British Columbia’s updated fiscal plan is showing strong results, creating an opportunity for further investment in priority areas, Finance Minister Carole Taylor announced today with the release of the First Quarterly Report for 2007/08.

According to Statistics Canada, employment in Canada increased by 31,000 in November. This brings gains over the last 12 months to 250,000 (+1.6%). The unemployment rate fell 0.2 percentage points to 6.4% in November, that is the lowest rate in over three decades. Average hourly wages were 3.9% higher in November than 12 months ago, well above the 2.6% year-over-year increase in October’s Consumer Price Index. The largest rise in average hourly wages with an increase of 6.7% from a year ago was in Alberta.

The federal government unexpectedly said it would cut taxes on dividends to level the playing field with income trusts. That made companies that pay fat dividends, such as banks and telecoms, power the advance. The benchmark stock index jumped to its highest level in more than five years.

- George Bush nominated Ben Bernanke to succeed Alan Greenspan as Chairman of the Federal Reserve Board. Market reaction to the nomination was mixed as the Dow Industrials Index posted its biggest daily gain in six months, while bonds fell as some feared the new Chairman might not be as tough on inflation.

-Inco Ltd. has agreed to buy rival mining company, Falconbridge Ltd., for approximately $12.8MM, creating the world’s largest producer of nickel. This will be the biggest mining merger since the creation of BHP Billiton in 2001.

Growing concern over Bird Flu is affecting consumption of poultry products in Europe. Britain and Italy, among other countries, have seen sharp falls in demand of poultry. People don’t want to risk their health.

According to the Canadian Labour Force Survey, 68,700 jobs were created in Canada in October, significantly more than the consensus estimate of 25,000. However, the majority of the job gains for men and women were part-time (+59,000), as full-time positions were up only 9,500. The unemployment rate dipped 0.1% to 6.6%, its lowest level since March 1975. In the U.S., nonfarm employment expanded by 56,000 jobs in October, whereas the consensus call was for twice as many (120,000). However, according to the household survey, most families think the job situation was encouraging, with a gain 214,000 positions and a reduction of 228,000 in the number of unemployed, pushing the jobless rate down from 5.1% in September to 5.0% in October.

Property and casualty insurer, Fairfax Financial, reports losses of approximately $12.8MM from claims of the families, victims of the disaster of Hurricane Katrina.

- Oil prices moved above $70 a barrel as the U.S. hurricane, Katrina, forced the closure of a number of oil refining operations in the Gulf of Mexico region.

June 18, 2004 — You can find major indices of the USA, UK, France, Germany, Japan, Hong Kong, Brazil, Canada, Mexico and their daily, weekly, monthly and annual changes.

You can find major indices of the USA, UK, France, Germany, Japan, Hong Kong, Brazil, Canada, Mexico and their daily, weekly, monthly and annual changes