Grandparents killed in wrong-way crash on Hwy. 401 identified
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Canada's main stock index concluded its third losing week in a row by giving back some of its recent gains amid concerns out of China about the real estate market and the country's ban on cryptocurrencies.
Markets were hit early Friday by China's decision to declare digital currencies like Bitcoin illegal. That particularly affected the technology sector.
Canadian digital asset miner Hut 8 Mining Corp. lost 5.3 per cent to push the technology sector down 1.2 per cent.
There were also suggestions that Evergrande may have missed a debt payment, renewing questions about its solvency and the potential spillover effects on the global economy.
Evergrande has caused the market this week to focus on China's real estate and real estate finance and assess whether the key driver of the country's economy may be weaker for a significant period of time, says Geoff Castle, portfolio manager for PenderFund.
"I think that the headlines around Evergrande are kind of a bit of a late reflection of something that's been kind of a decade in the making, which is a bit of a potentially unsustainable situation in the Chinese property market," he said in an interview.
Investors are also considering the knock-on effects of Evergrande on commodities, interest rates and the availability of credit throughout Asia.
The S&P/TSX composite index closed down 59.27 points to 20,402.66, losing 87.7 points over a topsy-turvy week.
In New York, the Dow Jones industrial average was up 33.18 points at 34,798.00. The S&P 500 index was up 6.50 points at 4,455.48, while the Nasdaq composite was down 4.54 points at 15,047.70.
Health care and technology led the nine sectors that lost ground on the TSX.
The sector that includes cannabis producers fell 2.8 per cent as shares of Cronos Group Inc. and Canopy Growth Corp. decreased 5.1 and 4.5 per cent, respectively.
Materials slipped even as metal prices rose.
The December gold contract was up US$1.90 at US$1,751.70 an ounce and the December copper contract was up 5.45 cents at nearly US$4.29 a pound.
Energy was the leading sector on the day, gaining 1.3 per cent on higher energy prices.
The November crude oil contract was up 68 cents at US$73.98 per barrel and the November natural gas contract was up 15.7 cents at US$5.20 per mmBTU.
Whitecap Resources Inc. gained 9.3 per cent while Enerplus Inc. was up 4.8 per cent.
The energy sector currently faces attractive operating conditions, said Castle, as crude oil prices have rebounded to their highest level since mid July and natural gas prices continue to be strong.
"You're seeing as a result quite significant drawdowns in the product inventories and that means prices have been a bit higher, which means companies that are involved in that sector continue to be quite profitable right now," he said.
"And then the market is trying to gauge the degree that that will continue to be the case."
The Canadian dollar traded for 78.86 cents US compared with 79.03 cents US on Thursday.
This report by The Canadian Press was first published Sept. 24, 2021.
A 60-year-old man and a 55-year-old woman killed in a wrong-way crash on Highway 401 earlier this week have been identified by the Consulate General of India in Toronto.
Three people have been arrested and charged in the killing of B.C. Sikh activist Hardeep Singh Nijjar – as authorities continue investigating potential connections to the Indian government.
Pius Suter scored with 1:39 left and the Vancouver Canucks advanced to the second round of the NHL playoffs with a 1-0 victory over the Nashville Predators on Friday night in Game 6.
TD Bank Group could be hit with more severe penalties than previously expected, says a banking analyst after a report that the investigation it faces in the U.S. is tied to laundering illicit fentanyl profits.
A Quebec man who pleaded guilty to threatening Prime Minister Justin Trudeau and Premier François Legault has been sentenced to 20 months in jail.
RCMP say human remains found in a rural area in central Saskatchewan may have been there for a decade or more.
A source close to singer Britney Spears tells CNN that the pop star is 'home and safe' after she had a 'major fight' with her boyfriend on Wednesday night at the Chateau Marmont in West Hollywood.
As Wegovy becomes available to Canadians starting Monday, a medical expert is cautioning patients wanting to use the drug to lose weight that no medication is a ''magic bullet,' and the new medication is meant particularly for people who meet certain criteria related to obesity and weight.
Drew Carey took over as host of 'The Price Is Right' and hopes he’s there for life. 'I'm not going anywhere,' he told 'Entertainment Tonight' of the job he took over from longtime host Bob Barker in 2007.
Alberta Ballet's double-bill production of 'Der Wolf' and 'The Rite of Spring' marks not only its final show of the season, but the last production for twin sisters Alexandra and Jennifer Gibson.
A British Columbia mayor has been censured by city council – stripping him of his travel and lobbying budgets and removing him from city committees – for allegedly distributing a book that questions the history of Indigenous residential schools in Canada.
Three men in Quebec from the same family have fathered more than 600 children.
A group of SaskPower workers recently received special recognition at the legislature – for their efforts in repairing one of Saskatchewan's largest power plants after it was knocked offline for months following a serious flood last summer.
A police officer on Montreal's South Shore anonymously donated a kidney that wound up drastically changing the life of a schoolteacher living on dialysis.
Since 1932, Montreal's Henri Henri has been filled to the brim with every possible kind of hat, from newsboy caps to feathered fedoras.
Police in Oak Bay, B.C., had to close a stretch of road Sunday to help an elephant seal named Emerson get safely back into the water.
Out of more than 9,000 entries from over 2,000 breweries in 50 countries, a handful of B.C. brews landed on the podium at the World Beer Cup this week.
Raneem, 10, lives with a neurological condition and liver disease and needs Cholbam, a medication, for a longer and healthier life.