TSX closes lower amid sliding gold prices traders link jobs data with

TORONTO — The Toronto stock market closed lower Friday even as jobs data for January in both Canada and the U.S. blew past expectations.The S&P/TSX composite index declined 41 points to 15,083.92 as losses in mining stocks cancelled out gains by financial and energy issues.Statistics Canada reported that 35,400 positions were created in January, far higher than the 4,500 that economists had expected. However, the agency said the gains were the result of more part-time work. The unemployment rate declined 0.1 percentage points to 6.6%.The Canadian dollar was lower after jumping almost a cent on Thursday, down 0.64 of a cent to 79.85 cents US.The loonie weakened in the face of a strengthening U.S. dollar after the U.S. Labor Department reported total employment gains of 257,000 last month, well above the approximately 233,000 positions that economists had expected. The U.S. jobless rate edged up to 5.7% from 5.6%.New York markets were lower as the Dow Jones industrials moved down 60.59 points to 17,824.29, the Nasdaq lost 20.7 points to 4,744.4 and the S&P 500 fell 7.05 points to 2,055.47.North American markets had traded higher for most of the day but a number of items encouraged sellers late in the session.For one thing, traders considered whether the strong jobs data makes a rate hike mid-year by the U.S. Federal Reserve more of a certainty.Also, ratings agency Standard & Poor’s downgraded Greek debt further into junk territory. And markets had already racked up strong gains this week.As it is, the TSX ended the week up 410 points or 2.8%, paced by a 12% jump in the energy sector. Oil prices have essentially stopped going straight down, having entered a period of volatility as traders try to find a bottom. Prices seem to have found some support around US$50 a barrel, but analysts caution that recent lows will be retested before firming up.“The good news is you’re starting to see some volatility and up days — we weren’t seeing any up days,” said Kevin Headland, director, portfolio advisory group at Manulife Asset Management.“So now we’re trying to find that floor but I would say there is a large potential to retest the lows and even hit lower lows before we see a reversal and get a trend to the upside.”On Friday, the TSX energy sector gained 0.7% with the March contract in New York ahead $1.21 to US$51.69 a barrel.Financials were also a major support, ahead one per cent.The gold sector was the biggest TSX decliner, down almost five per cent as bullion prices fell sharply after the release of the U.S. jobs data. April gold faded $28.10 to US$1,234.60 an ounce.The base metals sector also dragged, down 1.25% as March copper was off one cent at US$2.59 a pound.In earnings news, Domtar Corp. (TSX:UFS) had US$71 million or $1.10 per share of net income in the fourth quarter and US$1.379 billion in sales, both up from a year earlier. Ex-items, the Montreal-based paper company had US$91 million or US$1.41 per share of adjusted earnings, well ahead of the 92 cents that analysts had expected and its shares ran up C$3.32 or 6.95 per cent to $51.11. read more

9 faces you make while forced to be in the rain

first_imgIRELAND HAS DONE a great job of reminding us of its natural weather state over the past week or so, and thousands of people miserably commuted to work this morning cursing the rain as it poured down their face.We feel your pain. In fact, we’re pretty sure we all shared certain facial expressions this morning.Here are nine faces you make in the rain.The face you make when you wake up and realise it’s raining Source: giant mice kill rabbitsThis is a touch disappointed and a fair bit frustrated, with one part ‘could I get away with calling in sick’?May be accompanied by an eye-roll and a dramatic roll over.The face you make as you step out your doorIrritation and sadness mixed with bravery and determination indicate your attitude here.  You’re not happy about this situation, but dammit, you’re going to go for it.The face you make when you realise that your umbrella is entirely useless It’s true. This mangled piece of fabric was once an umbrella. Source: jontintinjordanDelighted with yourself because you remembered to bring an umbrella?  Throw that delight down the gutter, because your umbrella is no good to you today.The wind is blowing from what seems like every direction, and any person foolish enough to put their umbrellas up will soon learn that they haven’t a hope.The face you make when it looks like it’s going to stop This is not an accurate depiction of what it’s like to walk in the rain.Raised eyebrows plus naive optimism result in a face seasoned rain veterans will recognise as ‘beginner rain face’.This rain isn’t going anywhere, buddy, and the sooner you accept that the better.The face you make when you realise that the rain isn’t going anywhereIn fact, it’s getting worse. You look up, grimacing and cursing the sky, shaking your fist at it, if not in real life, in your mind.This is not fair.The face you make when you can’t see anything because your glasses are covered in droplets This is all you can see. This is not enough. Source: silent shotYou can’t see a thing, so are forced to squint into the distance to ascertain whether or not that red light is for you or oncoming traffic.Why has no one invented windscreen wipers for spectacles yet?The face you make when you are forced to stop and physically wipe itPerhaps you liberally applied moisturiser just before you left the house and it has dripped into your eyes and temporarily blinded you, or perhaps your face is dripping with so much condensation that a river of rain is flowing down your top.This is a particularly low point for the rained upon person.  It is now that you will become very sad, and perhaps even consider crying (depending on your emotional state).The face you make when you arrive at your destination and start complaining about the rain Guess what, the Backstreet Boys? This is not the reality of a life lived in the rain.‘No guys, I don’t think you understand, it is really really wet out there.’The face you make when your colleague arrives and starts complaining about the rainHalf bored, half indignant.  Don’t they realise that you were out there too?  OVER IT.The 7 stages of giving up on your umbrella today>Keith Duffy’s Irish speedos came off live on telly>last_img read more