CANADA STOCKS-TSX gains as investors shrug off U.S. shutdown
Just days before Parent went public with his findings, Veterans Affairs Minister Julian Fantino announced that the so-called veterans charter which outlines benefits for injured and ill veterans would be extensively reviewed this fall. But Parent expressed doubts the government is willing to take action. What is important here is to hold the parliamentarians to their promise when they first introduced it, that there will be continuous improvement, he added. And its very hard to believe that statement when . . . for six years there was nothing done about the charter, said Parent, who served as a military search-and-rescue technician for three decades. Veterans already suffering financial hardship dont have time for a drawn-out review, Parent said. What we dont want to see is another long, extended review, he said, adding that the Veterans Affairs Department should use his report as a blueprint to make the required changes. Everything is there for them so, therefore, it could be expedited, Parent said. Fantino was not available for an interview Tuesday. He issued a statement saying the report was an important starting point for the upcoming review. NDP Leader Thomas Mulcair accused the Conservatives of a double standard and said the shortfalls identified in Parents report are absolutely unacceptable. We have hundreds and hundreds of veterans who are simply not being taken care of by our government, Mulcair said Tuesday on Parliament Hill. This is the same government that talks about respecting our brave men and women in uniform. Lets do more than talk .
(IHS) Weve got uncertainty whether or not Canadian exports to the U.S. are going to rebound sharply over the next several months with this uncertainty over the government shutdown and the U.S. economic outlook, David Watt , chief economist at the Canadian unit of HSBC Holdings Plc, said in a phone interview. It makes sense the Canadian dollar would lag its commodity peers during an episode such as this. It will behave more like the U.S. dollar because of the close ties. The loonie, nicknamed for the image of the aquatic bird on the C$1 coin, weakened 1 percent to 97.02 cents per Australian dollar at 5 p.m. in Toronto. Canadas currency depreciated 0.1 percent to C$1.0322 per U.S. dollar. One Canadian dollar buys 96.88 U.S. cents.
Canada’s Dollar Drops Against Australia’s as U.S. Shuts Down
The TSX index ended up 60.25 points, or 0.47 percent, at 12,847.44, its biggest one-day gain since Sept. 18. It had opened in the red after hitting a two-week low on Monday. The materials sector was the only one of ten major groupings to slip. Goldcorp Inc and Barrick Gold Corp were the two heaviest drags on the Toronto Stock Exchange’s S&P/TSX composite index, with Goldcorp off 2.7 percent at C$26.06 and Barrick falling 3 percent to C$18.60. The price of gold fell below $1,300 per ounce, to its lowest since early August, in heavy volume early on Tuesday as investors saw the U.S. standoff as likely temporary and sold safe-haven bullion. But the partial U.S. government shutdown and looming debt-ceiling battle “are all good fodder for gold, so I think it is a purchase opportunity for gold and gold miners,” said John Ing, president of Maison Placements Canada. Valeant Pharmaceuticals International Inc had the single biggest positive impact on the index, up 4 percent at C$111.66. The index’s heavyweight energy sector gained despite a drop in oil prices. In the group, Talisman Energy Inc jumped 4.9 percent to C$12.40 and Suncor Energy added 0.9 percent to C$37.15. The financial sector was also higher, with Royal Bank of Canada gaining 1.1 percent to C$66.71.
Canada Carbon Closes $350,000 Private Placement
(the “Company”) (TSX VENTURE:CCB) announces that it has closed a non-brokered private placement (the “Private Placement”) which raised gross proceeds of $350,000 (the “Gross Proceeds”). The Company will be paying a cash commission of 6% of the Gross Proceeds, as well as non-transferable compensation warrants (the “Compensation Warrants”) equal to 6% of the Units sold pursuant to the Private Placement, to Euro Pacific Canada Inc. (the “Agent”). In accordance with applicable securities legislation, the securities issued in the Private Placement are subject to a statutory hold period expiring on February 2, 2014. The Company intends to use the proceeds of the Private Placement for general corporate and working capital purposes. The Private Placement is subject to final approval by the TSX Venture Exchange. On Behalf of the Board of Directors CANADA CARBON INC. R. Bruce Duncan Interim CEO and Director “Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.