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Stockhouse & the Bell: Stocks slips amid solid RBC results, remarks by Fed Chair

Canadian Press, The Canadian Press
0 Comments| August 22, 2014


TORONTO _ The Toronto stock market closed lower as the financial sector failed to find lift from record earnings at Canada's biggest bank.

The S&P/TSX composite index dropped 20.54 points to 15,535.55 after Royal Bank of Canada (TSX: T.RYStock Forum) posted a quarterly profit of $2.38-billion, up four per cent from a year earlier.

Royal Bank also increased its quarterly dividend by four cents to 75 cents a share.

The Canadian dollar was unchanged at 91.37 cents US.

The Dow Jones industrials fell 38.27 points to 17,001.22, while the Nasdaq gained 6.45 points to 4,538.55 and the S&P 500 index edged 3.97 points lower to 1,988.4.

Still, North American markets finished higher for the week, with the TSX ahead 1.51 per cent and the Dow industrials up 2.03 per cent. Sentiment was helped in part by strong housing and manufacturing data in the U.S. and also reassurance from the Fed that it is in no hurry to raise interest rates.

For news about small stocks that made big moves in Friday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


Tags: FINANCIAL SERVICES BANKS - GLOBAL

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