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TSX edges up on strong earnings reports from Canadian companies

Canadian Press, The Canadian Press
1 Comment| August 7, 2014


TORONTO _ The Toronto stock market was higher amid strong earnings reports from Canadian companies.

The S&P/TSX composite index gained 30.38 points to 15,.

The Canadian dollar was off 0.07 of a cent to 91.56 cents US.

U.S. indexes were also positive as the Dow Jones industrials rose 54.3 points to 16,497.64, the Nasdaq gained 14.14 points to 4,369.19 and the S&P 500 index was ahead seven points to 1,927.24.

In the background are ongoing tensions over the crisis in Ukraine and fresh Russian sanctions on the West. Trading has been lacklustre over the last several sessions as traders worry about Russia getting more involved in the Ukraine government's fight against pro-Russian rebels.

Of particular interest was Manulife Financial _ the insurer announced it is starting to restore the big dividend cut it made in 2009 in the wake of the financial collapse. At that time, it cut its dividend in half. It is now raising its quarterly dividend 2.5 cents to 15.5 cents per share. Manulife also said that second-quarter net income more than tripled to $943 million, or 49 cents per share. However, core earnings, which exclude extraordinary items, missed forecasts but the shares gained 18 cents to $22.15.


Tags: ETF

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August 7, 2014
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