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The Week of November 9th to November 15th, 2015 “A Brief Look Back Into To Tomorrow”

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The Week of November 9th to November 15th, 2015 “A Brief Look Back Into To Tomorrow”






The new trading week began on Monday, November 9th following a week that saw North American markets move higher in reaction to better than expected employment numbers on both sides of the border.




Africa Oil (AOI-T) shares’ sprang back into life and rose by over 24% to $2.11 on word that Dutch conglomerate Maersk was taking a 50% or US$350-million investment in the beleaguered oil companies operations in Kenya and Ethiopia.




The share price Norfolk Southern (NCC-N) gained over 11% to US$88.67 when Bloomberg reported that Canadian Pacific (CP-T) was in the market to purchase the American railway.




And similarly, Plum Creek Timber (PCL-N) shares’ surged up by over 17% to US$47.27 when Weyerhaeuser (WY-N) announced they were purchasing their competitor in an all-stock deal of some US$8.4-billion and create America’s largest forest products company.




Merrill Lynch reported that with 439 of the S&P 500 companies having reported their 3rd-quarter financials61% have beaten the street’s earnings expectations.




Demand for silver coins is surging as GFMS Thomson Reuters reported that year-over-year 3rd-quarter sales of silver bullion coins rose by 74% in North America, 72% in Europe, 95% in Japan and 202% in Asia to a total of 32.9-million ounces.




Every gambler knows that eventually the house wins – as was the case on Tuesday, November 10th when Amaya Inc. (AYA-T) shares’ plunged by almost 32.5% to $21.10 when the online gambling company’s 3rd -quarter financials fell short of the street’s expectations.




There’s a theory that when things are tough people lose their worries at the movies – so things must be very tough as Canada’s largest theater chain Cineplex Inc. (CGX-T) reported record 3rd-quarter revenues.




New Flyer Industries (NFI-T) shares’ were flying high after the Winnipeg, Manitoba  based travel coach manufacturer announced a US$455-million all cash takeover of fellow Winnipeg based transit bus maker Motor Coach Industries International (MCI).




Wednesday, November 11th saw North American markets traded on minimum volumes as most took the day to remember our military casualties.




As we here in North America were remembering, China experienced its largest shopping day of the year and with the help of e-commerce network Alibaba Group Holding (BABA-Q) saw that country transact a record US$10billion worth of purchasing.





TransCanada Corp. (TRP-T) quickly shook off the effects of the American rejection of their Keystone XL pipeline by announcing a US$500-million contract to supply 25-years of natural gas transportation and infrastructure to Mexico with the Tuxpan-Tula Pipeline project.




Freshpet Inc. (FRPT-Q) shares were sent to the doghouse on Thursday, November 12th as they plunged by 25% to US$6.27 when the refrigerated pet food company lowered its outlook for the rest of 2015.




Conversely, the share price of Angie’s List (ANGI-Q) rose by over 13% to US$8.98 after IAC/InterActiveCorp (IACI-Q) made a US$512-million takeover offer for the consumer-review site.




Meanwhile, the price of Advance Auto Parts (AAP-N) fell by almost 15.5% to US$164.63 when the company failed to impress the street with its 3rd-quarter results.




Friday, November 13th – No black cats, No problem.




The International Energy Agency (IEA) announced that the world’s crude oil stockpiles had swollen in September to a record of nearly 3-billion barrels.




Meanwhile Brazil’s state owned Petroleo Brasileiro SA reported it will seek outside investors from other countries as part of an effort to reduce the largest debt load in the oil industry.




Nordstrom Inc. (NRD-N) shares’ sank by 15% to US$53.96 when the U.S. retailer reported less than stellar 3rd-quarter financials.




And then a relatively uneventful Friday was thrown into turmoil by the terrorist attacks on Paris, France.




During the week – Crude oil fell to a 3-month low of US$41.60-a-barrel, with natural gas dropping to a 31/2-year low of US$2.26-per-1mbtus, while gold bullion fell to a 4-month low of US$1081-an-ounce and copper sank to a 61/2-year low of US$2.16-a-pound.




Algonquin Power & Utilities (AQN-T) at $10.90, New Flyer Industries (NFI-T) at $25.52 and Tree Island Steel (TSL-T) at $3.75 all reached new 52-week trading highs while Ag Growth International (AFN-T) at $29.82, Newalta Corp. (NAL-T) at $4.47 and Wajax Corp. (WJX-T) at $17.01 all set new 52-week trading lows.




For the Week – The Dow Industrials fell by 3.71% to 17,245, with the S&P 500 Index off by 3.62% to 2,023 and the NASDAQ Exchange down by 4.25% to 4,928. To the Liberal north, the TSX Composite Index dropped by 3.53% to 13,075 and the TSX Venture Exchange was down by 187% to 524.




With commodities – Gold bullion fell by 0.64% to US$1,081, with copper off by 3.57% to US$2.16, and crude oil dropping by 5.15% to US$42.01 while natural gas gained 0.42% to US$2.38. Overall the CRB Spot Commodity Index eased by 1.79% to 384.




The Canadian dollar lost another 0.09% against its American counterpart to finish the week at US$0.7508.




And the closely watched CBOE Volatility Index or VIX rose by 5.98-points to end the week at a much more nervous level of 20.31.




And Finally – Living in a northern climate may not be good for your Weightwatchers profile as Transport Canada dictates that during the winter months airlines are to increase the average weight they use in load calculations for adult female and male passengers by         6-pounds to 171 and 206-pounds respectively, although mostly to compensate for the extra clothing it is assumed that Canadians will wear and carry on in colder months.

Posted November 17, 2015

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