The Prospector News

The Shortened Week of February 20th to February 25th, 2018 “A Brief Look Back Into Tomorrow”

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

The Shortened Week of February 20th to February 25th, 2018 “A Brief Look Back Into Tomorrow”

 

 

 

 

 

 

The new North American trading week began on Tuesday, February 20th following the Canadian Family Day and American Presidents Day long weekends, with investors experiencing the market corrections are normal, healthy and good – until they happen to you feeling.

 

 

 

Bombardier Inc. ‘BBD.B-T’ shares’ rose by 5% to $3.92 on reports the transit train manufacturer was in talks with the government of Thailand in regard to a commuter rail connection to that country’s Phuket airport.

 

 

 

The price of Walmart Inc. ‘WMT-N’ stock slumped by 10% to US$94.11 after the world’s largest retailer reported a surprise drop in online sales growth over the critical recent holiday season.

 

 

 

Wednesday, February 21st had the price of many cobalt issuers rise in tandem on reports that tech giant Apple Inc. ‘AAPL-Q’ was looking to secure a large amount of cobalt for its own use.

 

 

 

Kirkland Lake Gold ‘KL-T’ shares’ rose by almost 9% to $19.51 after the miner released a larger than expected update mineral reserve.

 

 

 

The price of Devon Energy ‘DVN-T’ fell by almost 12% to $30.65 after the petroleum company failed to impress the street with its 4th-quarter production estimates.

 

 

 

It seems that Canadians were feeling a Scrooge-like last Christmas as Statistics Canada reported on Thursday, February 22nd that the country’s retail sales fell by 0.8% in December to $49.6-billion.

 

 

 

Chesapeake Energy ‘CHK-N’ shares’ surged up by over 21.5% to US$3.20 after the petroleum giant reported better than expected 1st-quarter financials.

 

 

 

The price of Clearwater Seafoods ‘CLR-T’ plunged by over 17% to $4.58 after the Department of Fisheries and Oceans issued a competing permit to harvest Atlantic Arctic Surf Clams to the Five First Nations Clam Company.

 

 

 

Friday, February 23rd saw Statistics Canada report that the country’s annual inflation rate eased by 0.2% in January to an annualized rate of 1.7%.

 

 

 

Petroleum industry consultant Baker Hughes ‘BHGE-N’ reported that the number of active American drilling rigs rose by 3-rigs last week to 978 active drilling rigs. Further north – the number of active Canadian drilling rigs fell by 12-rigs to 306 active drilling rigs.

 

 

 

As per usual – the Canadian Banks – Bank of Montreal ‘BMO-T’, CIBC ‘CM-T’, National Bank ‘NA-T’, Royal Bank of Canada ‘RY-T’, Scotiabank ‘BNS-T’ and Toronto Dominion ‘TD-T’ reported 1st-quarter results that met or beat the streets’ expectations.

 

 

 

Blue Buffalo Pet Products ‘BUFF-N’ shares’ surged up by almost 17% to US$39.87 after foods giant General Mills ‘GIS-N’ agreed to buy the pet foods company in an all cash deal of some US$8-billion.

 

 

 

During the WeekBombardier Inc. ‘BBD.B-T’ at $4.01, Canfor Corp. ‘CFP-T’ at $31.87 and Spin Master ‘TOY-T’ at $57.30 all rose to new TSX 52-week trading highs while Clearwater Seafoods ‘CLR-T’ at $4.44, Morguard Corp. ‘MRC-T’ at $164.00 and Osisko Mining ‘OSK-T’ at $2.70 all fell to new 52-week trading lows.

 

 

 

For the Week – the Dow Industrials rose by 0.36% to 25,310, with the S&P 500 up by 0.55% to 2,747 and the NASDAQ ahead by 1.20% to 15,638. Up north – the TSX Composite improved by 1.20% to 15,638 while the TSX Venture lost 0.48% to 826.

 

 

 

With Commoditiesgold bullion fell by 1.84% to US$1,331, as copper lost 1.23% to US$3,21, while crude oil gained 3.23% to US$63.54 and natural gas rose by 2.69% to US$2.67. Overall – the CRB Spot Commodity Index improved by 0.23% to finish the week at 443.

 

 

 

The Canadian dollar fell by 0.62% against its American neighbour to end the week at US$0.7913.

 

 

 

And the closely watched CBOE Volatility Index or VIX dropped by 2.97-points to finish the week at a much more calmer level of 16.49.

 

 

 

And Finally – The conversion from ‘A home is a Castle’ to ‘A Home is a Piggy Bank’ continues as the Office of the Superintendent of Financial Institutions reported that Canadian non-mortgage loans secured by residential properties rose by 7.2% in 2017 to a record       $230-bullion.

Posted February 27, 2018

Share this news article

MORE or "UNCATEGORIZED"


ORENINC INDEX down as substantial financings fell away

ORENINC INDEX – Monday, April 6th2020 North Am... READ MORE

April 6, 2020

KORE Mining Announces Positive Preliminary Economic Assessment for Imperial Oxide Gold Deposit

KORE Mining Ltd. (TSX-V: KORE) (OTCQB: KOREF) is pleased to annou... READ MORE

April 6, 2020

IMPACT Silver Announces Full Year 2019 Financial & Production Results

IMPACT Silver Corp. (TSX-V: IPT) (OTC Pink: ISVLF) announces its ... READ MORE

April 6, 2020

PUMA ACQUIRES LARGE GOLD PROPERTY YIELDING UP TO 50.8 G/T AU

Puma Exploration Inc. (TSX-V:PUMA) has signed an option agreement... READ MORE

April 6, 2020

GFG Drills 71.27 Grams of Gold per Tonne Over 8.5 Metres at the Pen Gold Project West of Timmins, Ontario

GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) reports it has int... READ MORE

April 6, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions