BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2015 Baystreet.ca Inc. All rights reserved. 9/1/2015 6:02:23 AM <![CDATA[Baytex Energy "MARKET PERFORM"]]>Mon, 31 Aug 2015 07:27:00 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?22948<![CDATA[Gold Ends Higher Friday, Down on Week]]>Fri, 28 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=609Friday, August 28, 2015


Gold Ends Higher Friday, Down on Week


Gold futures logged their first gain in five sessions on Friday, but still suffered from their worst weekly loss in about a month.

Gold for December delivery gained $11.40, or 1%, to settle at $1,134 U.S. an ounce in on Comex. Prices saw a 2.2% weekly loss—the largest since the week ended July 24.

Thursday’s stronger-than-expected gross-domestic-product report suggests the U.S. economy may be on better footing than the market has feared. Analysts speculate that despite global-market turmoil fueled by China—the world’s second-largest importer of commodities—the Federal Reserve may still find cause to lift interest rates sooner than later.

Higher rates would be a boon for the U.S. dollar but may dim the appeal of dollar-denominated gold for buyers purchasing the asset in other currencies.

Improving U.S. economic data, such as second-quarter U.S. GDP growth raised to 3.7%, is providing support for the greenback, said a number of experts. But some Fed officials haven’t sounded very supportive of a rate increase. Some experts maintain that economic data next week will be what really matter.

On Friday, data on personal-consumption expenditures, a measure of inflation, showed it at its lowest level since March 2011. Gold held on to its gains after the PCE data.

Another event investors are watching is the Jackson Hole, Wyoming summit, where Fed officials are expected to drop clues about the U.S. central bank’s likelihood of hiking rates just weeks ahead of the key two-day meeting of the Federal Open Market Committee starting Sept. 16.

In other metals, September silver gained 11.8 cents, or 0.8%, to $14.535 U.S. an ounce, for a weekly loss of 5%. September copper ended at $2.347 U.S. a pound, climbing 1.3 cents, or 0.5%—up about 1.9% for the week.

October platinum rose $15.70, or 1.6%, to $1,021.70 an ounce, for a weekly decline of 0.5%, while September palladium added $20.95, or 3.7%, to $589.55 U.S. an ounce to lose about 2.4% on the week.

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<![CDATA[Racist Facebook Posts Probed in Germany]]>Thu, 27 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=581Thursday, August 27, 2015

Racist Facebook Posts Probed in Germany


Germany's justice minister has accused Facebook (NASDAQ: FB) of doing too little to thwart racist posts and hate comments on the social media platform and has proposed a meeting next month in Berlin with top officials from the company in Europe.

In a letter to Facebook public policy director Richard Allan in Dublin obtained by Reuters, Heiko Maas said he had received many complaints from users that their protests on racist posts have been ignored. He suggested a meeting in Berlin on Sept. 14.

"Facebook users are, in particular, complaining increasingly that your company is not effectively stopping racist 'posts' and comments despite their pointing out concrete examples," wrote Maas, a member of the center Social Democrats (SPD).

Maas's SPD party has faced a flood of racist emails and phone calls this week after its chairman Sigmar Gabriel, who is also conservative Chancellor Angela Merkel's deputy in Germany's ruling coalition, denounced the "mob" behind anti-refugee violence in the eastern town of Heidenau.

The town near Dresden was the scene of violent clashes last weekend as far-right militants, protesting against the arrival of around 250 refugees at a local shelter, pelted police with bottles and rocks, some shouting "Heil Hitler".

A spokeswoman for Facebook said the company took Maas's concerns seriously and that it was interested in meeting the justice minister.

Meanwhile, Facebook shares in New York opened Thursday up $1.99, or 2.2%, to $89.18 U.S., within a 52-week trading range of $70.32 U.S. to $99.24 U.S.

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<![CDATA[Economic Calendar]]>Tue, 01 Sep 2015 06:02:23 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125September 2015
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Tuesday, August 04, 2015 RBC Manufacturing PMI: 9:30am July RBC's Canadian Manufacturers PMI dipped to 50.8 from June's six-month high of 51.3 but remained above the neutral 50.0 threshold. The latest reading was still stronger than the average for 2015 so far (49.9), and signaled a marginal upturn in manufacturing sector business conditions. The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 51.3 last month from 49.8 in May.
Wednesday, August 05, 2015 Canadian International Merchandise Trade: 8:30am June Canada's exports increased 6.3% in June while imports declined 0.6%. As a result, Canada's merchandise trade deficit with the world narrowed from $3.4 billion in May to $476 million in June. Canada's exports declined 0.6% in May while imports edged up 0.2%. As a result, Canada's merchandise trade deficit with the world widened from $3.0 billion in April to $3.3 billion in May.
Friday, August 07, 2015 IVEY Purchasing Managers Index: 10:00am July The Ivey Purchasing Managers Index (PMI) by the end of July 2015 stood at 52.9. The corresponding Ivey PMI figure for June 2015 was 55.9, for July 2014 was 54.1 and for July 2013 was 48.4. The Ivey Purchasing Managers Index (PMI) by the end of June 2015 stood at 55.9. The corresponding Ivey PMI figure for May 2015 was 62.3, for June 2014 was 46.9 and for June 2013 was 55.3.
Friday, August 07, 2015 Labour Force Survey: 7:00am July Employment was little changed in July (+6,600 or 0.0%) and the unemployment rate remained at 6.8% for the sixth consecutive month. Employment was virtually unchanged in June (-6,400 or 0.0%), as gains in full-time work were offset by losses in part-time. The unemployment rate held steady at 6.8% for the fifth consecutive month.
Friday, August 07, 2015 Building Permits: 8:30am June The total value of building permits rose 14.8% to $7.7 billion in June, following a 13.9% decrease in May. The total value of building permits fell 14.5% to $6.7 billion in May, following two months of double-digit gains. Declines were recorded in five provinces, led by Ontario, which had posted a notable increase the previous month.
Tuesday, August 11, 2015 Housing Starts: 8:15am July A report from Canada Mortgage and Housing Corp showed the seasonally-adjusted annualized rate of housing starts fell to 193,032 in July from a downwardly-revised 202,338 units in June. Forecasters had expected 195,000 starts. Canada Mortgage and Housing Corp reported the seasonally adjusted annualized rate of housing starts rose to 202,818 units in June from a downwardly revised 196,981 units in May. Forecasters had expected 190,000 starts.
Thursday, August 13, 2015 New Housing Price Index: 8:30am June The New Housing Price Index rose 0.3% in June, largely as a result of gains in Ontario. This was the third consecutive monthly price increase for the Canada-level index. The New Housing Price Index (NHPI) rose 0.2% in May, following a 0.1% increase in April. Gains in Ontario and Saskatchewan were moderated by declines in Quebec.
Friday, August 14, 2015 CREAstats - MLS Sales: 8:30am July The Canadian Real Estate Association said national home sales activity edged back by 0.4% from June to July. Actual (not seasonally adjusted) activity stood 3.4% above July 2014 levels. The MLS® Home Price Index (HPI) rose 5.9% year-over-year in July. The Canadian Real Estate Association said sales activity was down 0.8% last month from May. CREA also said actual sales for June, not seasonally adjusted, surged 11% from June 2014.
Friday, August 14, 2015 Monthly Survey of Manufacturing: 8:30am June Manufacturing sales rose 1.2% to $50.8 billion in June, the second consecutive gain and the third increase since January 2015. Despite the gains in June, year-to-date sales were down 1.5% from the same period in 2014. Manufacturing sales edged up 0.1% in May, while constant dollar sales fell 0.5%, indicating a lower volume of goods sold.
Monday, August 17, 2015 Canada's International Transactions in Securities: 8:30am June Foreign investors added $8.5 billion of Canadian securities to their holdings in June, following a $5.5 billion divestment in May. At the same time, Canadian investors acquired $8.6 billion of foreign securities, all non-US instruments. Foreign investors reduced their holdings of Canadian securities by $5.4 billion in May, led by a divestment in equities. Meanwhile, Canadian investors added $5.6 billion of foreign securities to their portfolios, mainly corporate securities.
Thursday, August 20, 2015 Employment Insurance: 8:30am June There were 531,700 people receiving regular Employment Insurance benefits in June, up 5,200 or 1.0% from May. There were 527,100 people receiving regular Employment Insurance benefits in May, edging up 0.9% or 4,800 from April.
Thursday, August 20, 2015 Wholesale Trade: 8:30am June Wholesale sales rose 1.3% to $55.3 billion in June, more than offsetting the decline in May, on the strength of gains in five of seven sub-sectors. In the second quarter of 2015, wholesale sales rose 2.1% compared with the first quarter. Wholesale sales decreased 1.0% to $54.5 billion in May, following two consecutive increases. Lower sales in four subsectors, which together represented 65% of wholesale sales, accounted for the decline. Excluding the motor vehicle and parts subsector, wholesale sales declined 0.6%.
Friday, August 21, 2015 Consumer Price Index: 7:00am July The Consumer Price Index rose 1.3% in the 12 months to July, after increasing 1.0% in June. The Consumer Price Index rose 1.0% in the 12 months to June, after increasing 0.9% in May. On a seasonally adjusted monthly basis, the Consumer Price Index rose 0.4% in June, matching the increase in May.
Friday, August 21, 2015 Retail Trade: 8:30am June Retail sales increased 0.6% to $43.2 billion in June. Retail sales rose 1.0% to $43.0 billion in May.
Friday, August 28, 2015 Industrial Product Price Index: 8:30am July The Industrial Product Price Index increased 0.7% in July, mainly because of higher prices for motorized and recreational vehicles The Industrial Product Price Index increased 0.5% in June, mainly because of higher prices for energy and petroleum products and motorized and recreational vehicles.
Friday, August 28, 2015 Raw Materials Price Index: 8:30am July The Raw Materials Price Index declined 5.9% in July, led by lower prices for crude energy products. The Raw Materials Price Index was unchanged in June, as lower prices for metal ores, concentrates and scrap were mostly offset by higher prices for crude energy products.
Tuesday, September 01, 2015 GDP: 8:30am June --- Real gross domestic product fell 0.2% in May, the fifth consecutive monthly decrease. The decline in May was mostly a result of contractions in manufacturing, mining, quarrying, and oil and gas extraction as well as wholesale trade.
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<![CDATA[Alberta Has Lost Oil Jobs by Thousands ]]>Mon, 31 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1440Alberta Has Lost Oil Jobs by Thousands


Less than a year ago, Alberta was still complaining of a labour shortage. Schools couldn't find bus drivers, job vacancy rates were the highest in the country.

It's no secret that the situation has changed.

The Canadian Association of Petroleum Producers says that 35,000 oilpatch jobs have been cut this year, 25,000 from the oil services sector and 10,000 from exploration and production. CAPP pulled the number together by canvassing its members, reviewing Statistics Canada numbers and working with the Canadian Association of Oilwell Drilling Contractors.

Meanwhile, other industries are picking up some of the slack. The monthly labour force survey shows that Alberta's job growth has been largely flat this year, jobs that have been lost in the natural resource sector seem to have been created elsewhere.

After years of struggling to find drivers, Southland Transportation, which provides school buses to Calgary schools, has been inundated with applications this year, including some from engineers and geologists.

As we head into the fall and energy companies start to set their budgets for next year, more job cuts are likely. Many companies were able to hedge, or pre-sell, their production at higher prices through the middle of 2015, but those hedges are expiring, leaving producers at the mercy of today's lower prices.

CAPP expects to see a further 25% cut in capital spending for next year, as oil sands development in particular slows. Less spending means less work to do.

One industry expert says the industry is doing its best to hold onto to staff, but anxiety about the job market is well justified.

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<![CDATA[Asia Has Worst Month in 3 Yrs. ]]>Mon, 31 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=2194Monday, August 31, 2015

Asia Has Worst Month in 3 Yrs.


Asian stock markets closed their worst monthly performance in more than three years in August, as shares struggled to recover from a global selloff sparked by worries about China.

In Japan, the Nikkei 225 index ditched 245.84 points, or 1.3%, to close the month of August at 18,890.48. The index was down 8.2% this month, its worst month since January 2014.

The Japanese yen, which serves as a haven asset during selloffs, strengthened 0.4% to Yen121.19 against the U.S. dollar

In Hong Kong, the Hang Seng Index picked up 58.19 points, or 0.3%, to 21,670.58, its worst monthly performance since September 2011. It is down about a fourth from late April when it hit its highest level since 2007.

Last week, the Hang Seng, along with benchmarks in Taiwan and Indonesia fell into bear territory, which is defined as a loss of 20% or more from a recent high.

Australia’s S&P ASX 200 is down 8.6% this month, its worst monthly performance since October 2008.

CHINA

In China, the CSI 300 gained 24.25 points, or 0.7%, to 3,366.54,

A slowdown in China’s economy, magnified by a surprise devaluation of the Chinese yuan earlier this month, accelerated a rout in Shanghai that spread across the globe, pushing down everything from stocks in the U.S. and Europe, to commodities and emerging market-currencies.

While stability has returned in recent days in Asia, the selloff has left currencies in the region near multiyear lows and stocks at their lowest levels in months.

Earlier this year in Asia, stocks fell as the Shanghai market fell from a mid-June high. But the region’s selloff accelerated once Shanghai started swinging wildly late this month — the index’s 8.5% drop on Aug. 24, dubbed "Black Monday" by state media, was its worst single day loss in more than eight years. A day later, Beijing cut interest rates for the fifth time since November.

As Beijing readies for celebrations commemorating the 70th anniversary of the end of World War II, the Shanghai Composite is down 38% from its June peak. Markets on the mainland will be closed Thursday and Friday, when Beijing puts on parade for the world to show off its growing military prowess, in spit of the wobbly economy.

The yuan has fallen about 2.7% in August against the U.S. dollar, but it is expected to fall further as policy makers allow the currency to trade more in line with market guidance. Further weakness would pressure the currencies of neighboring countries that compete with China in the global export market, in addition to commodity-exporting countries that may face weaker Chinese demand.

Despite the China rout, global investors bought 24 billion yuan worth of Shanghai stocks in August through a trading link with Hong Kong, the largest monthly inflows for the program since February and a reversal from 27.3 billion yuan of outflows in July.

Over the weekend, Beijing said it would cap local government debt at 16 trillion yuan ($2.5 trillion U.S.). The Standing Committee of China’s National People’s Congress imposed a 600-billion-yuan limit on the direct debt local governments are allowed to run up this year, the official Xinhua News Agency said late Saturday.

Xinhua has also reported that Chinese authorities are holding a financial journalist, a regulator and four senior staff from a brokerage for suspected violation of market rules. The crackdown follows efforts earlier this summer by Chinese authorities to curb what they called "malicious short selling" — previous such crackdowns were popular with investors.
In other markets

In Korea, the Kospi index inched up 3.82 points, or 0.2%, to 1,941.49

In Singapore, the Straits Times Index dropped 34.50 points, or 1.2%, to 2,921.44

In Taiwan, the Taiex index added 155.74 points, or 1.9%, to 8,174.92

The NZX 50 moved lower 14.24 points, or 0.3%, to 5,656.25

The ASX 200 Index slid 56.58 points, or 1.1%, to 5,206.98

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<![CDATA[Global Funds Buy More Bonds Amid China Woes]]>Mon, 31 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1445This month's wild ride in global stocks and fears of an emerging market crisis led funds to raise bond allocations to eight-month highs, even though most investors remain bullish on the outlook for Japan and the West.

The monthly Reuters survey of 47 fund managers and chief investment officers in the United States, Europe, Japan and Britain was conducted as Chinese authorities battled to stem an equity market collapse and bolster flagging economies.

A yuan devaluation and a steady stream of weak data have fanned fears that the economy is in worse shape than previously thought.

Chinese equities have fallen 45% from mid-June peaks, the resulting shock waves rippling as far out as New York and Frankfurt, wiping trillions of dollars off global stocks over the past month.

Broadly, the share of bonds in global balanced portfolios rose more than one percentage point to 37.2%. That is a whisker below December 2015 levels, which in turn were the highest in 18 months.

Allocations to Japanese bonds hit the highest since June 2012 at 15.1% possibly due to the turmoil next door in China, that led Asian investors to reach for safer assets.

Euro-zone bond allocations rose to 29.1% up from 26.9% last month.

August was a torrid month for equities, with world stocks headed for their biggest monthly loss since March 2012 and European equities losing more than 9%.

The share of equities in global portfolios was steady at 49.7% though weightings to Europe and Britain fell one percentage point.

In the United States, equity allocations rose 2.7 percentage points to 41.7%

Investors' faith in the U.S. recovery was confirmed this week by data showing the world's biggest economy grew 3.7% in the second quarter. What's more, the China turmoil has reduced chances that the U.S. Federal Reserve will raise interest rates in September.

The biggest victims of the China effect are probably emerging markets, where collapsing currencies and rising borrowing costs are threatening already weak economies.

Emerging equities have fallen 15% so far this year Currencies at record or multi-year lows against the dollar are raising fears of a spate of defaults by indebted countries and companies from the developing world.

Few investors appeared tempted by rock-bottom valuations on emerging stocks and bonds, and allocations were lower more or less across the board, from Asia to Latin America.

One expert predicted that cheap asset prices might fuel a bounceback in some sectors and has therefore retained global equity allocations at "neutral" levels in his portfolio, rather than underweight.

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<![CDATA[IPO Center - TSX-V]]>Thu, 25 Jun 2015 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date MacArthur Minerals Limited MMS 25-06-2015 CohBar Inc. COB 06-01-2015 Riley Resources Corp. RLY.P 08-01-2015 POCML 3 Inc. PWR 15-01-2015 Essa Pharma Inc. EPI 27-01-2015 Carlaw Capital V Corp. CVC 05-02-2015 Lupaka Gold Corp. LPK 18-02-2015 Arch Biopartners Inc. ACH 23-02-2015 LL Capital Corp. LLA.P 04-03-2015 San Angelo Oil Limited SAO 10-03-2015 Aequus Pharmaceuticals Inc. AQS 17-03-2015 Zincore Metals Inc. ZNC 31-03-2015 Dominion General Investment Corporation DIC.P 27-03-2015 EQ Inc. EQ 31-03-2015 Starlight U.S. Multi-Family (No.4) Core Fund SUF 14-04-2015 Tidewater Midstream and Infrastructure Ltd. TWM 15-04-2015 Titanium Transportation Group Inc. TTR 16-04-2015 Mira VII Acquisition Corp. MVA 23-04-2015 Vier Capital Corp. VIE 30-04-2015 BitGold Inc. XAU 13-05-2015 Novo Resources Corp. NVO 27-05-2015 Flying Monkey Capital Corp. FMK 12-06-2015 Shoal Games Ltd. SGW 02-07-2015 Quinsam Opportunities I Inc. QOP.P 03-07-2015 A2 Acquisition Corp. APD.P 13-07-2015 Strateco Resources Inc. RSC 13-07-2015 Candente Gold Corp. CDG 27-07-2015 DealNet Capital Corp. DLS 28-07-2015 Almadex Minerals Limited AMZ 14-08-2015 Automodular Corporation AM 17-08-2015 Revelstoke Equity Inc. REQ.P 18-08-2015]]><![CDATA[Toronto Nears Breakeven]]>Mon, 31 Aug 2015 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=4530Monday, August 31, 2015

04:22 PM EST
Toronto Nears Breakeven

Energy Springs to Life



The TSX inched aces away from breakeven by the closing bell Monday afternoon, after shedding more than 100 points, as utility stocks extended their earlier decline.

Mining shares, however, managed to recover despite the persistent weakness in gold and copper prices .

The S&P/TSX composite index came off its lows of the morning, closing down only 5.95 points Monday at 13,859.12, after falling as much as 100 points soon after the open.

The Canadian dollar regained 0.27 cents to 76.01 cents U.S.

Utilities got roughed up the most Monday, as TransAlta Corp. 28 cents, or 4.1%, off Friday’s pace, to $6.59, while Fortis Inc. demurred $1.31, or 3.5%, to $36.00

Gold stocks were punished as well, as B2Gold lost eight cents, or 4.9%, to $1.54, and Yamana Gold weakened 12 cents, or 4.6%, to $2.47.

Among consumer staples, Alimentation Couche-Tard dropped $1.03, or 1.8%, to $55.61, while George Weston settled by $1.91, or 1.7%, to $109.38.

In the energy field, Lightstream Resources rocketed nine cents, or 18.4%, to 58 cents, while RMP Energy gushed 25 cents, or 15.4%, to $1.87.

Bombardier was the most actively traded stock, gaining three cents, or 2%, to $1.28, on 12.1 million shares.

ON BAYSTREET

The TSX Venture Exchange strengthened 3.81 points to 559.48

All but three of the 14 TSX subgroups were lower on the day, weighed mostly by utilities, down 2.4%, gold, down 2.3%, and consumer staples, down 1.3%.

The three gainers were energy, surging 3.1%, while metals and mining advanced 0.3%, and information technology gained 0.2%.

ON WALLSTREET

U.S. stocks closed lower on Monday, the last day of trade for August, as investors digested a volatile month amid continued uncertainty about China and the Fed.

The Dow Jones industrial average moved lower 114.98 points to 16,528.03, with Merck the greatest decliner and Chevron the greatest advancer.

American Express was the only blue chip in the black for the month, while Walt Disney plunged 15.1% in August as the greatest decliner.

The S&P 500 fell 14.1 points to 1,974.77, with health care leading nine sectors lower and energy the only advancing sector. In late-morning trade, index component Signet Jewelers hit an all-time high, while Sempra Energy and Exelon hit fresh 52-week lows.

The NASDAQ index dropped 45.47 points to 4,782.85.

Apple closed down 0.5% on the day, off 7% for the month. The stock remains in correction territory.

Both the Dow and S&P had five days of gains or losses of more than 2% this month, making it the most volatile month in nearly four years.

Phillips 66 jumped about 2.4% after Warren Buffett's Berkshire Hathaway disclosed late Friday a $4.48 billion U.S., or roughly 10.8%, stake in the oil refiner.

Oil reversed an early decline to settle up 8.8%, more than wiping out August losses and posting its best three-day rally since the three days ending Aug. 6, 1990

Crude spiked after the Organization of Petroleum Exporting Countries noted concerns about low oil prices in its publication issued Monday.

No major earnings are due on Wall Street on Monday. The Chicago purchasing managers' index for August came in at 54.4

Federal Vice Chairman Stanley Fischer told the media on Friday from the Jackson Hole symposium that it was too early to determine whether last week's market turmoil would impact the likelihood of a rate hike next month.

He added in a Saturday speech that inflation pressure in the U.S. economy is likely to rebound and allow for a gradual increase in rates.

He and the Bank of England's Governor Mark Carney indicated with their comments that the two central banks could be set to look past recent financial market turmoil set off by fears of slowing China growth.

Prices for 10-year U.S. Treasuries lost ground on the day, raising yields to 2.21% from Friday’s 2.19%. Treasury prices and yields move in opposite directions.

Oil prices jumped $3.40 a barrel to $48.62 U.S.

Gold prices peeked up 10 cents to $1,134.10 U.S. an ounce.





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<![CDATA[Stocks in Play: Pacific Exploration & Production Corp.]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18690Monday, August 31, 2015

09:46 AM EST - Pacific Exploration & Production Corp. : Announced today the start of operations of Puerto Bahía port facilities in Cartagena, Colombia. The terminal officially commenced liquid and general bulk transport operations on August 28, opening a multi-modal and world-class specialized port for the public. Pacific Exploration & Production Corp. (T.PRE) shares were down $0.02 at 4.43.

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<![CDATA[Stocks in Play: Premier Gold Mines Limited]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18691Monday, August 31, 2015

09:47 AM EST - Premier Gold Mines Limited : Provided an update of ongoing surface drilling at the Company's 100%-owned Hasaga Project in the Red Lake gold mining district of Northwestern Ontario including assays of up to 0.94 grams per tonne gold (g/t Au) across 305.5 metres. Hasaga is strategically-located proximal to the Balmer-Confederation unconformity, recognized as an important geologic feature at the multi-million ounce past and currently producing Red Lake area mines. Premier Gold Mines Limited (T.PG) shares were down $0.02 at 2.28.

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<![CDATA[Stocks in Play: Royal Bank of Canada]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18692Monday, August 31, 2015

09:48 AM EST - Royal Bank of Canada : Has completed the previously-announced sale of Royal Bank of Canada (Suisse) SA, its Switzerland-based private banking business, to SYZ Group. The sale was completed on August 28. Royal Bank of Canada (T.RY) shares were down $0.12 at 73.58.

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<![CDATA[Stocks in Play: Red Pine Exploration Inc.]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18693Monday, August 31, 2015

09:49 AM EST - Red Pine Exploration Inc. : Has closed its non-brokered financing originally announced on July 2, pursuant to which it has received total gross proceeds of $885,789, of which $80,000 was subscribed by insiders and employees of the Company. Red Pine Exploration Inc. (V.RPX) shares were unchanged at 0.06.

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<![CDATA[Stocks in Play: Athabasca Oil Corporation]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18694Monday, August 31, 2015

11:50 AM EST - Athabasca Oil Corporation : Has received payment of $152.6 million from Phoenix Energy Holdings Limited (now Brion Energy Corporation), being the principal and interest payable under the second of three promissory notes issued to the Company by Brion. The payment relates to Athabasca's prior sale of its 40% interest in the Dover oil sands project to Brion, which closed on August 29, 2014. The final promissory note for $134 million is unconditional and secured by an irrevocable, standby letter of credit issued by HSBC Bank Canada and matures on August 29, 2016. Athabasca Oil Corporation (T.ATH) shares were up $0.04 at 1.49.

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<![CDATA[Stocks in Play: Altus Group Limited]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18695Monday, August 31, 2015

11:51 AM EST - Altus Group Limited : Announced its ARGUS Software subsidiary has surpassed a significant 1,000 customer milestone for its flagship ARGUS Enterprise platform - the world's most comprehensive asset and investment management software for commercial real estate. Altus Group Limited (T.AIF) shares were up $0.66 at 21.76.

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<![CDATA[Stocks in Play: Resverlogix Corp.]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18696Monday, August 31, 2015

11:53 AM EST - Resverlogix Corp. : Announced that Dr. Norman Wong, its chief scientific officer, presented new data at the European Society of Cardiology (ESC) Congress 2015 in a poster presentation titled: "RVX-208, an orally active BET inhibitor, lowers CVD risk by activities beyond raising ApoA-I/HDL." Resverlogix Corp. (T.RVX) shares were down $0.02 at 1.55.

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<![CDATA[Stocks in Play: Zenyatta Ventures Ltd.]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18697Monday, August 31, 2015

03:41 PM EST - Zenyatta Ventures Ltd. : Announced the grant of 950,000 options to management, directors and advisors, at an exercise price of $1.43 per share for a period of five years. Zenyatta Ventures Ltd. (V.ZEN) shares were down $0.03 at 1.43.

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<![CDATA[Stocks in Play: Loyalist Group Limited]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18698Monday, August 31, 2015

03:42 PM EST - Loyalist Group Limited : announced that on August 28, the Company received a notice of default letter from Bank of Montreal pertaining to a financial covenant breach in the Forbearance Agreement. Loyalist Group Limited (V.LOY) shares were down $0.005 at 0.07.

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<![CDATA[Stocks in Play: Bank of Montreal]]>Mon, 31 Aug 2015 09:45:00 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=18699Monday, August 31, 2015

03:43 PM EST - Bank of Montreal : announced that on August 28, Loyalist Group Limited received a notice of default letter from Bank of Montreal pertaining to a financial covenant breach in the Forbearance Agreement. Bank of Montreal (T.BMO) shares were up $0.02 at 71.12.

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<![CDATA[Transgenomic Adds Asia Distributor For ICEme]]>Thu, 27 Aug 2015 03:47:00 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=1036Thursday, August 27, 2015

Transgenomic Adds Asia Distributor For ICEme



This week saw a sharp pullback in the biotechnology sector, leading many to question whether the biotech bubble has burst.

The biotechnology sector has seen a multi-year rally so questions over a potential bubble are not surprising. Indeed, many compare the present state of the biotech sector to the peak of the tech bubble at the start of the millennium. However, there is a huge difference between the state of the biotech sector now and the tech sector at the peak of the bubble.

The big difference is that unlike many tech companies during the bubble years, most biotechnology companies have actual products under development that have the potential to generate substantial revenue in the future. The high valuation is justified to an extent given the innovation that has been going on in the sector. Several incurable diseases now have a cure.

One example is in the hepatitis C space where innovation has meant that the disease can be cured in under three months.

Of course, the question then is what about this week’s pullback. The pullback in biotechs was not related to any problem with the sector but rather due to turmoil in global equity markets due to developments in China.

Indeed, the sector has rebounded sharply in the last two days, with several stocks posting strong gains. One stock that has risen sharply today is Transgenomic Inc. (NASDAQ:TBIO), an Omaha, Nebraska-based biotechnology company advancing personalized medicine for the detection and treatment of cancer and inherited diseases.

This morning, TBIO announced that it added distributors in China and Japan for its ICEme(TM) Mutation Enrichment Kits for genomics research. The kits use TBIO’s Multiplexed ICE COLD-PCR(TM) (MX-ICP) technology and are designed to facilitate genomics-based cancer research.

The distributors include Spectron Scientific Co. Ltd. in China and Sowa Trading Co. Inc. in Japan. Both are established suppliers of life science products to researchers at universities, pharmaceutical and biotech companies, and research institutes in their respective markets, TBIO said in the press release.

Paul Kinnon, President & CEO of Transgenomic, said that Asia represents important and growing markets for cancer research, and TBIO’s ICEme Kits will allow researchers in China and Japan to use the sequencing platforms already in their labs to conduct sophisticated genetic analyses to accelerate their cancer research and drug discovery programs. Kinnon added that the company expects to announce additional distributors in other key territories soon.

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<![CDATA[Recent Low Foreseen for Loonie]]>Fri, 28 Aug 2015 09:56:00 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=22938
At 10 a.m. ET comes the final reading of the University of Michigan Consumer Sentiment for August. Central bankers continue their meetings in Jackson Hole, Wyoming today and tomorrow, but U.S. Federal Open Market Committee member Stanley Fischer is anticipated to speak at 11:20 from Jackson Hole. His speech has the potential to signal what future move the Fed could be considering, so watch for volatility.

Experts expect a range today of $1.3210 to 1.3348 Canadian for the U.S. dollar

The euro is strong from yesterday’s close. The Consumer Price Index released for Germany and Spain where they had separate mixed results. Germany’s August CPI y/y and m/m both printed better than expected at 0.2% and 0.0% respectively. The euro had a modest gain early this morning after reversing six cents in gains the past two days. Potential downside risk lies with the euro after dovish comments from European Central Bank Chief Economist Peter Praet on Wednesday. Bank Vice President Victor Constancio will speak on Saturday leading into next Thursday’s ECB meeting. The euro is currently trading at 1.4960 Canadian.

Observers expect a range today of $1.4902 to $1.5017 Canadian

The Great British pound is strong from yesterday’s close at $2.0465 Canadian. GDP data released early this morning and both y/y and q/q were in line with expectations printing at 2.6% and 0.7% respectively. This was the tenth consecutive quarter of positive growth. No revisions were made to both y/y and q/q. This positive data has helped support the sterling.

Both Australian and New Zealand dollars are benefiting from higher commodity prices. No major announcements were due overnight for both currencies leaving the pair to trade on broader sentiments. The Reserve Bank of Australia meeting is the next major event risk next week. The Aussie is currently trading at $0.9475 Canadian and the Kiwi is trading at $0.856 Canadian.

Data Releases

CAD: No data

AUD: No data

EUR: German CPI

GBP: GDP

JPY: No data

NZD: No data

USD: Personal Spending + University of Michigan + Jackson Hole]]>
<![CDATA[Top Analysts Actions: LPL, DLPH, CALM, ABG, VIV]]>Mon, 31 Aug 2015 12:47:41 ESThttp://www.baystreet.ca/articles.aspx?id=31356<![CDATA[Cisco Systems (NASDAQ: CSCO) Drops on Ericsson Deal ]]>Mon, 31 Aug 2015 12:08:15 ESThttp://www.baystreet.ca/articles.aspx?id=31355<![CDATA[Ericsson (NASDAQ: ERIC) Inks Deal with Cisco; Shares Fall]]>Mon, 31 Aug 2015 12:06:26 ESThttp://www.baystreet.ca/articles.aspx?id=31354<![CDATA[Extreme Networks (EXTR) Keeps Win Streak Alive]]>Mon, 31 Aug 2015 12:03:48 ESThttp://www.baystreet.ca/articles.aspx?id=31353<![CDATA[Baxalta (BXLT) Slumps on Reports of Buying Ariad]]>Mon, 31 Aug 2015 11:46:00 ESThttp://www.baystreet.ca/articles.aspx?id=31352<![CDATA[Ariad Pharmaceuticals (ARIA) Down amid Reports of Sale ]]>Mon, 31 Aug 2015 11:42:00 ESThttp://www.baystreet.ca/articles.aspx?id=31351<![CDATA[SunEdison Inc (NYSE: SUNE) Hikes on Overweight Initiation]]>Mon, 31 Aug 2015 11:36:00 ESThttp://www.baystreet.ca/articles.aspx?id=31350<![CDATA[The Medicines Company (MDCO) Leaps on Positive Study Results ]]>Mon, 31 Aug 2015 11:34:15 ESThttp://www.baystreet.ca/articles.aspx?id=31349<![CDATA[Noble Energy (NBL) Falls, Echoing Much of Energy Sector ]]>Mon, 31 Aug 2015 11:03:00 ESThttp://www.baystreet.ca/articles.aspx?id=31348<![CDATA[Micron Technology (MU) Fades After Friday Gain]]>Mon, 31 Aug 2015 10:59:00 ESThttp://www.baystreet.ca/articles.aspx?id=31347