November 9th, 2015

Daily Market Commentary



  • Housing Starts in Canada were up 198.1K, below estimates.
  • A Sentix survey of investor confidence in the Eurozone was reported at 15.1, above estimates.


  • Oil halted a three-day decline to trade near $45 a barrel in New York as Saudi Arabia predicted that low prices will spur fuel demand growth.
  • Gold held near a three-month low after a government report showed the pace of U.S. jobs growth accelerated in October, backing the case for higher interest rates in December.



  • PrairieSky Royalty Ltd., the Calgary-based company spun off by Encana Corp. last year, agreed to acquire royalty assets from Canadian Natural Resources Ltd. for C$1.8 billion ($1.4 billion).
  • Canadian Pacific train carrying crude derails in Wisconsin. At least 10 railcars are confirmed to have derailed and some crude is leaking near Watertown, Wis., co. spokesman Jeremy Berry says by e-mail.
  • Barack Obama’s rejection of the proposed Keystone XL pipeline is prompting growing calls for Canada to take dramatic regulatory steps, including implementing a carbon tax, to demonstrate it is serious about reducing greenhouse gas emissions. (Globe)

United States:

  • U.S. stock-index futures declined, as investors assessed gains, after equities extended their longest weekly winning streak of 2015.
  • Boeing Co. announced an order for 75 of its 737 single-aisle airliners with a list price of about $8 billion from Jet Airways India Ltd., ending a sales drought at the biennial Dubai Air Show.
  • Apache Corp., the oil and natural gas company worth more than $18 billion, has received an unsolicited takeover approach, according to people familiar with the matter.


  • European stocks fell, after rising four times in the past five days, as investors speculated about diverging monetary-policy paths in the region and the U.S.
  • BHP Billiton Ltd.’s chief executive departed for Brazil Monday as prosecutors there seek the suspension of licenses at its iron-ore venture as well as compensation for victims after two dams burst causing deadly mudslides. A third dam is being monitored, said BHP, which fell to the lowest since 2008 in Sydney trading.
  • ABN Amro Group NV, the nationalized Dutch lender preparing for a share sale this year, reported third-quarter earnings that climbed 13 percent on lower write-downs of bad loans.
  • Ericsson AB is partnering with Cisco Systems Inc. to develop telecommunications networks, the latest combination in the industry as equipment makers seek to expand their offerings amid soaring Internet traffic.
  • Deutsche Lufthansa AG cancelled almost 1,000 flights for Monday, amid the longest strike by cabin crew in the German airline’s history.
  • China’s stocks rose to a 11-week high as the government’s plan to resume initial public offerings by the end of the year boosted brokerages and banks. Bonds slumped.
  • Toshiba Corp. sued three former presidents as the maker of personal computers and power plants tries to recover from accounting irregularities that have led to profit write downs of more than $1.2 billion over almost seven years. Shares fell.

*All information is taken from Bloomberg, unless otherwise noted.