Finance

Stocks Regain Ground But Still Close Lower For The Week

Stocks Regain Ground But Still Close Lower For The Week

"What has changed this time is that the scary threats and war of words between the USA and North Korea have intensified to the point that markets can't ignore it", said Shane Oliver, head of investment strategy at AMP Capital in Sydney, as quoted by Reuters.

The decline followed overnight losses on Wall Street.

The Toronto Stock Exchange's S&P/TSX composite index fell 39.02 points, or 0.26 percent, to end at 15,217.33.

U.S. President Donald Trump told reporters at his golf club in Bedminster, New Jersey, on Thursday that he will respond forcefully to any North Korean attack on the U.S. or its allies.

US equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough.

Most large-cap stocks were mixed across the board.

It was the biggest daily fall on the FTSE 100 since April 18 this year when the market lost 180 points.

Google CEO Pichai cancels 'town hall' on gender dispute
Some conservatives, meanwhile, appeared to feel marginalized by the reaction to the memo, according to another question. That's a big challenge when Google's parent company, Alphabet, now employs 76,000 employees around the world.

On the currency markets, the pound was down to a three-week low against the USA dollar but mainly due to earlier disappointing output and trade data. Viacom slid 60 cents, or 1.9 percent, to $30.17.

In oil, Brent crude was dragged 0.5% lower at 52.46 United States dollars a barrel despite Opec forecasting increased demand for oil next year. Major indexes in Asia closed lower. But the market quickly bounced back, led by numerous tech stocks that were sinking on Thursday.

The Labor Department said its producer price index for final demand edged down by 0.1 percent in July after inching up by 0.1 percent in June.

The index was also dragged lower after Beijing ordered probes into three major Chinese social networking platforms over outlawed content.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 per cent to C$24.43, its largest drop since early August a year ago.

Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26. European stocks were facing the worst week in nine months (http://www.marketwatch.com/story/european-stocks-face-worst-week-in-9-months-on-us-north-korea-tensions-2017-08-11) on U.S.

Nevsun Resources Ltd offset some of the material group's gains, plunging 16.4 per cent to C$2.75 after the company reported disappointing quarterly results. Wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet. The September copper contract was down two cents to US$2.91 a pound. The euro strengthened to $1.1756 from $1.1752.