Stocks Stumble at Open
Equities in Toronto opened lower on Wednesday, tracking downbeat global mood on concerns over economic growth and rising consumer prices, with data showing hotter-than-expected domestic inflation further denting sentiment. The SP|TSX shed Tuesday’s gains and lost 151.59 points at Wednesday’s open to 20,339.42 The Canadian dollar drifted off 0.14 cents at 77.93 cents U.S. CIBC cut the target price on CAP REIT to $60.00 from $63.00. Units of CAP REIT backtracked seven cents to $47.64. CIBC cut the target price on Hudbay Minerals to $11.50 from $14.00. Hudbay shares acquired five cents to $7.42. ATB Capital Markets raised the rating on Questor Technology to sector perform from underperform. Questor shares were static at $1.19. On the economic slate, Statistics Canada reports the Consumer Price Index (CPI) rose 6.8% on a year-over-year basis in April, up from a 6.7% gain in March. On a seasonally adjusted monthly basis, the CPI increased 0.7% in April. Elsewhere, Alberta Premier Jason Kenney told a U.S.
Stocks Stumble at Open
Equities in Toronto opened lower on Wednesday, tracking downbeat global mood on concerns over economic growth and rising consumer prices, with data showing hotter-than-expected domestic inflation further denting sentiment. The SP|TSX shed Tuesday’s gains and lost 151.59 points at Wednesday’s open to 20,339.42 The Canadian dollar drifted off 0.14 cents at 77.93 cents U.S. CIBC cut the target price on CAP REIT to $60.00 from $63.00. Units of CAP REIT backtracked seven cents to $47.64. CIBC cut the target price on Hudbay Minerals to $11.50 from $14.00. Hudbay shares acquired five cents to $7.42. ATB Capital Markets raised the rating on Questor Technology to sector perform from underperform. Questor shares were static at $1.19. On the economic slate, Statistics Canada reports the Consumer Price Index (CPI) rose 6.8% on a year-over-year basis in April, up from a 6.7% gain in March. On a seasonally adjusted monthly basis, the CPI increased 0.7% in April. Elsewhere, Alberta Premier Jason Kenney told a U.S.