Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 28, 2015, Winnipeg, Manitoba C M Y K PAGE B7 T H E M A R K E T S O N 0 1 . 2 7 . 1 5 S & P / T S X TSX VENTURE D O W J O N E S N A S D A Q C A N A D I A N S T O C K S FP MARKETS TSX UP MODESTLY 14,833.88 + 36.05 + 0.24% 676.77 + 2.38 + 0.35% 17,387.21 - 291.49 - 1.65% 4,681.50 - 90.26 - 1.89% B Y M A L C O L M M O R R I S O N T O R O N T O . The Toronto stock market closed modestly higher Tuesday, recovering from an early triple- digit slide amid rising oil and gold prices and a solid earnings report from Canadian grocer Metro Inc. The S& P/ TSX composite index closed up 36.05 points at 14,833.88. Metro's quarterly profit was up 13.4% from a year ago to $ 112.5 million. Adjusted earnings were $ 1.35 per share, 4� above estimates, while sales were up 5.2% to $ 2.84 billion. Metro also announced a three- forone stock split and a dividend hike. Metro shares advanced $ 3.99 or 4.1% to $ 101.25 after hitting an all time high of $ 104.03. Canadian National Railway closed down 28� to $ 85.16 ahead of earnings. After the close, those earnings came in at $ 1.03 per share, 6� ahead of estimates. CN also boosted its quarterly dividend 25% to 31.25� a share. The Canadian dollar rose 0.39 of a cent to US80.62�. The selling pressure was particularly fierce in New York amid disappointments from heavyweights, including Caterpillar and Microsoft. The Dow industrials plunged 291.49 points to 17,387.21, the Nasdaq lost 90.26 points to 4,681.5 and the S& P 500 index fell 27.54 points to 2,029.55. The Canadian Press FP CAREERS Every Wednesday & Saturday Reach quality candidates by showcasing your organization's employment opportunities. Place your ad today: careers@ nationalpost. com For Career Advice For Job Search / jobs C O M M O D I T I E S C R U D E O I L US$ 46.23 US$ 1.08 N Y M E X G A S US$ 2.98 - US1� G O L D US$ 1,291.70 US$ 12.30 S I L V E R US$ 18.11 US14� ARC Resources 23.09 + 0.60 1321 5.2 25.9 33.68 20.75 - 18.1 Agnico Eagle 42.58 + 1.80 1066 0.9 n. a. 45.92 25.05 + 27.0 Agrium 131.91 + 1.66 445 2.9 18.3 133.24 92.81 + 34.3 Air Canada 11.98 - 0.05 1527 n. a. 17.9 12.75 5.135 + 37.7 Aliment B SV 47.60 + 0.65 793 0.4 24.6 49.20 26.753 + 82.5 AutoCanada 37.99 - 1.21 511 2.6 17.5 91.72 37.10 - 2.9 BCE 57.78 - 0.09 1518 4.3 19.4 59.10 45.09 + 25.7 BCE pf AF 18.91 - 0.27 581 6.0 n. a. 22.56 18.75 - 10.8 B2Gold 2.58 + 0.06 9707 n. a. n. a. 3.69 1.65 + 1.6 Bank of Mtl 78.11 - 0.03 1340 4.1 12.1 85.71 67.04 + 10.9 Bk Mtl pf 23 25.32 nil 781 5.3 n. a. 26.40 25.18 - 3.0 Bank of NS 63.22 - 0.27 2375 4.2 11.1 74.93 59.92 + 2.5 Barrick Gold 16.26 + 0.44 3435 1.5 n. a. 23.78 11.67 - 21.1 Baytex Energy 19.97 + 0.22 1274 6.0 10.8 49.88 14.56 - 51.3 BlackBerry 13.11 + 0.01 2097 n. a. n. a. 15.10 7.685 + 20.9 Bombrdr B SV 2.79 - 0.02 4965 3.6 9.8 4.43 2.53 - 28.5 BrkfldAsst LV 64.60 - 0.31 1516 1.2 12.2 65.28 40.34 + 56.9 CCL Inds B NV 128.01 + 0.12 135 0.9 23.0 129.29 76.95 + 63.8 CGI Group SV 46.92 - 1.31 1478 n. a. 16.9 49.08 32.71 + 37.6 CI Financial 32.80 - 0.05 418 3.8 18.6 37.00 30.56 - 4.3 Cameco 18.11 + 0.31 693 2.2 69.7 28.57 16.73 - 26.8 CIBC 92.20 - 0.39 1229 4.5 11.7 107.37 85.03 + 6.2 Cdn Natl Rail 85.16 - 0.28 1131 1.2 23.7 86.42 57.07 + 47.0 Cdn Natrl Res 36.63 + 0.36 2793 2.5 12.7 49.57 31.00 + 3.6 Cdn Oil Sands 7.82 - 0.28 5150 17.9 6.0 24.68 7.10 - 60.9 Cdn Pac Rail 222.61 + 0.48 509 0.6 26.1 247.56 155.02 + 41.3 Cdn Tire A NV 122.48 - 0.02 163 1.7 16.2 130.36 93.20 + 27.3 Cdn Util A NV 42.15 + 0.17 993 2.8 17.6 44.27 36.56 + 16.6 Cdn Wstrn Bnk 28.15 - 0.40 484 3.0 10.3 43.30 27.38 - 23.2 Catamaran 64.17 - 0.64 306 n. a. 36.7 65.69 40.52 + 16.6 Cenovus Enrg 24.67 + 0.06 2789 4.3 16.0 34.79 18.72 - 14.5 CrescentPoint 30.68 - 0.25 3131 9.0 33.3 48.68 21.20 - 20.3 DeeThree Expl 5.71 + 0.29 2103 n. a. 9.5 12.18 4.025 - 34.8 Detour Gold 13.51 + 0.71 2260 n. a. n. a. 15.62 6.02+ 118.6 Dollarama 60.23 - 0.07 358 0.5 29.5 61.59 40.05 + 41.6 Eldorado Gold 7.39 + 0.30 3205 0.3 n. a. 9.68 5.65 + 5.6 Emera 41.37 - 0.22 342 3.7 21.3 41.88 30.88 + 31.3 Empire NV 89.98 + 1.77 131 1.2 37.8 90.68 64.63 + 27.8 Enbridge 62.80 + 0.39 1039 3.0 70.6 65.13 45.63 + 34.5 EnCana 16.98 + 0.44 2380 2.0 3.4 26.85 13.31 - 14.9 Enerplus 12.30 + 0.41 1553 8.8 14.1 27.05 9.02 - 37.5 FairfaxFin SV 664.09+ 12.56 34 1.9 7.3 669.00 418.36 + 58.5 Finning Intl 21.84 - 0.87 1053 3.3 12.3 34.34 20.52 - 17.8 First Quantum 12.04 - 0.18 5710 1.2 11.0 27.29 9.89 - 39.3 Fortis 40.87 + 0.35 1529 3.3 29.2 41.19 29.78 + 35.3 Franco- Nevada 72.60 + 2.89 670 1.4 n. a. 72.69 49.08 + 44.3 Gildan Actvwr 72.73 - 0.25 458 0.9 19.9 73.02 53.45 + 26.8 Goldcorp 30.53 + 0.77 3922 2.4 n. a. 32.46 19.18 + 17.7 Grt- West Life 32.47 - 0.01 517 3.8 12.4 33.98 28.61 + 3.5 H& R REIT 24.62 + 0.12 501 5.5 n. a. 24.69 20.72 + 18.3 Husky Energy 27.55 + 0.14 772 4.4 13.4 37.31 21.39 - 15.4 Imperial Oil 48.85 + 0.80 605 1.1 9.9 57.96 44.08 + 6.8 Intact Finl 85.30 + 0.53 291 2.3 16.9 87.48 65.82 + 26.4 Inter Ppln 33.03 - 0.02 665 4.5 29.8 38.95 26.41 + 25.7 Interfor Corp 21.34 + 0.19 860 n. a. 24.3 22.29 14.15 + 40.4 Intertain Grp 16.12 + 1.32 1665 0.2 n. a. 17.73 3.85 n. a. IntertapePoly 17.09 - 0.11 657 3.5 10.0 20.45 11.12 + 46.2 Keyera 79.65 - 0.26 359 3.2 27.6 99.84 64.15 + 20.4 Kinross Gold 4.30 + 0.07 2670 n. a. n. a. 5.99 2.27 - 14.2 Loblaw Cos 62.15 + 1.27 762 1.6 n. a. 63.27 41.32 + 45.1 Lundin Mining 4.56 - 0.18 2674 n. a. 16.7 6.57 3.68 - 6.6 MEG Energy 20.64 + 0.65 733 n. a. n. a. 41.29 13.30 - 30.3 METRO 101.25 + 3.99 363 1.2 19.8 104.03 60.95 + 62.0 Magna Intl 119.53 + 0.25 327 1.6 11.5 129.78 90.71 + 25.1 Manulife Finl 20.44 - 0.52 3406 3.0 9.4 23.09 18.91 - 0.6 MapleLeafFds 20.20 + 0.67 909 0.8 n. a. 20.81 15.09 + 30.2 Methanex 58.79 + 0.74 312 2.1 10.1 81.24 48.97 - 4.5 National Bank 45.26 - 0.15 1424 4.4 10.4 55.50 41.255 + 5.9 Open Text 73.92 + 0.69 316 1.2 28.5 74.26 49.23 + 39.1 Paramount Res 30.80 + 1.56 413 n. a. 85.6 66.37 21.72 - 26.7 Pembina Ppln 41.19 + 0.05 1231 4.2 36.1 53.04 36.16 + 8.9 Potash Corp 45.16 + 0.45 1277 3.8 22.8 45.27 33.61 + 26.9 Power Corp SV 30.77 + 0.02 676 3.8 11.7 32.87 27.60 + 1.1 Power Finl 34.92 - 0.14 508 4.0 11.2 36.70 30.14 + 2.1 PrairieSky Rt 26.50 + 0.16 2124 4.9 n. a. 42.60 23.06 n. a. Precisn Drill 6.84 + 0.16 1647 4.1 9.2 15.65 5.70 - 28.7 RioCan REIT 29.76 - 0.10 493 4.7 12.2 30.08 24.50 + 21.3 Ritchie Bros 31.39 - 0.04 375 2.2 28.1 31.96 23.48 + 25.1 RogerCom B NV 44.70 - 0.30 1174 4.1 16.9 47.50 40.80 - 4.6 Royal Bank 75.12 - 0.19 2953 4.0 12.5 83.87 67.65 + 8.3 SNC- Lavalin 43.82 - 0.68 389 2.2 23.1 59.63 38.70 - 6.8 Saputo 36.60 + 0.79 379 1.4 25.5 36.81 25.56 + 39.7 Shaw Com B NV 29.73 + 0.41 2032 4.0 16.6 31.93 24.28 + 20.0 Silver Wheatn 29.77 + 0.48 1089 1.0 35.3 30.09 18.92 + 25.0 Spartan Enrgy 2.68 + 0.06 7189 n. a. n. a. 4.26 2.20 n. a. Sun Life Finl 38.55 - 0.77 1035 3.7 12.9 43.44 35.17 + 6.3 Suncor Energy 37.63 + 0.42 2793 3.0 18.0 47.18 30.89 + 3.6 TELUS 43.19 - 0.35 1407 3.7 19.0 44.49 36.83 + 16.7 Teck Res B SV 15.64 - 0.23 2755 5.8 19.6 28.18 12.46 - 41.8 ThomsonReuter 49.17 - 0.61 937 3.3 77.7 49.89 36.86 + 22.5 TD Bank 52.23 - 0.22 3154 3.6 12.6 58.20 47.35 + 7.7 Tourmaline 37.40 - 0.18 345 n. a. 26.0 59.25 34.47 - 20.7 TransCanada 55.99 + 0.59 1030 3.4 23.3 63.86 47.14 + 15.3 Valeant Pharm 199.55 + 0.33 276 n. a. n. a. 200.37 116.01 + 37.1 VermilionEnrg 55.68 + 0.21 472 4.6 18.6 78.24 44.05 - 9.8 West Fraser 69.04 + 0.37 244 0.4 36.8 69.51 45.05 + 21.3 WestJet Airl 30.83 - 0.40 389 1.6 15.2 34.95 22.95 + 19.1 Weston George 97.53 + 0.61 398 1.7 n. a. 104.00 75.15 + 26.7 Whitecap Res 11.99 + 0.37 2784 6.3 9.5 18.70 9.75 + 2.2 Yamana Gold 5.37 + 0.11 6906 1.4 n. a. 11.86 3.93 - 47.8 T H E T S X T O P 1 0 0 Net Vol % 52 wk 52 wk 52 wk Stock Close ch 000s yield P/ E high low % ch Net Vol % 52 wk 52 wk 52 wk Stock Close ch 000s yield P/ E high low % ch C U R R E N C I E S Currency In $ Cdn Argentina peso 0.0935 Australia dollar 0.9826 Chinese yuan 0.1984 Denmark krone 0.1892 Dominican peso 0.0277 Euro 1.4077 Hong Kong dollar0.1599 India rupee 0.0202 Japan yen 0.0105 S. Korea won 0.0011 Mexico peso 0.0850 Pakistan rupee 0.0123 Russia rouble 0.0186 Sri Lanka rupee 0.0094 Sweden krona 0.1513 Switzerland franc1.3742 Taiwan dollar 0.0399 U. A. E. dirham 0.3373 U. K. pound 1.8836 U. S. dollar 1.2389 C A N A D I A N D O L L A R US80.62� US0.39� Currency In $ Cdn Currency In $ Cdn Currency In $ Cdn M A N I T O B A S T O C K S Data unavailable from source. FUTURES TRADING CANOLA March 460.10 463.00 458.80 459.60 460.70 May 455.30 458.00 454.30 455.10 455.90 July 449.90 451.40 448.20 448.90 449.10 Nov. 435.70 437.80 434.00 435.10 435.30 Jan. � 16 0.00 0.00 0.00 436.80 437.30 March 0.00 0.00 0.00 441.10 441.60 May 0.00 0.00 0.00 444.90 445.40 July 0.00 0.00 0.00 449.10 449.80 Nov 0.00 0.00 0.00 448.30 449.00 Jan. � 17 0.00 0.00 0.00 448.30 449.00 March 0.00 0.00 0.00 448.30 449.00 BARLEY ( WESTERN) Mar. � 15 0.00 0.00 0.00 195.00 195.00 May 0.00 0.00 0.00 197.00 197.00 July 0.00 0.00 0.00 199.00 199.00 Oct 0.00 0.00 0.00 190.00 190.00 Dec 0.00 0.00 0.00 190.00 190.00 Mar. � 16 0.00 0.00 0.00 190.00 190.00 May 0.00 0.00 0.00 190.00 190.00 July 0.00 0.00 0.00 190.00 190.00 Oct 0.00 0.00 0.00 190.00 190.00 Dec 0.00 0.00 0.00 190.00 190.00 Mar. � 17 0.00 0.00 0.00 190.00 190.00 WINNIPEG ( CP) - Grain quotes yesterday. Open High Low Close Yest. Open High Low Close Yest. Open High Low Close Yest. Open High Low Close Yest. Open High Low Close Yest. SOURCE: FP DATA GROUP LAST WEEK THIS WEEK LAST YEAR, WEEKLY INDEX CLOSE DAILY IN MILLIONS OF SHARES NATIONAL POST S& P / TSX COMPOSITE INDEX 11000 12000 13000 14000 15000 16000 F M A M J J A S N D J 0 200 400 600 800 O 13000 13500 14000 14500 15000 M T W T F M T W T F SAVERS & INVESTORS REACH WE MORE 74% THE FREE PRESS IN PRINT OR ONLINE EACH WEEK READ winnipegfreepress. com WEDNESDAY, JANUARY 28, 2015 B 7 TORONTO - Canada's biggest banks have started passing on some - but not all - of the Bank of Canada's recent rate cut, lowering the interest charged to borrowers with loans and mortgages tied to the prime rate. Royal Bank was the first to cut its prime rate when it announced it would go down to 2.85 per cent from three per cent, effective today. The move was quickly matched by the Bank of Montreal and TD Bank. The Bank of Canada surprised markets last week when it cut its overnight lending rate to 0.75 per cent from one per cent in a move to soften the blow of falling oil prices on the economy. However, the big banks had been slow to match the cut with a reduction in their prime rates. Spin Mortgage co- founder Steve Pipkey said the prime lending rate offered by Canadian banks usually moves in lockstep with the central bank's overnight lending rate, and it's unusual for banks to only partially pass on the savings to consumers. The most recent exception was in December 2008, when the central bank cut its key interest rate by 75 basis points. The banks responded at the time with a 50 basis- point reduction to their prime rates. Pipkey said the banks are likely trying to protect their lending margins, but the others will likely follow RBC's lead. " It would be crazy for banks to give up market share based on ( 15 basis points)," Pipkey said. Brokers say the fixed- rate mortgages banks offer to their most trustworthy clients have started to come down, as well, and are expected to come down further as the spring real estate market gets into full swing. Robert McLister, the founder of RateSpy. com, said Canada's biggest banks are now offering five- year fixed- rate mortgages at an estimated 2.84 per cent to their most qualified borrowers. RateSpy estimates the rate at which banks will lend to their most credit- worthy borrowers, which is much lower than the rates banks advertise on their websites. The site revised its estimate down from 2.89 per cent on Monday, after Royal Bank cut its posted rate for five- year fixed mortgages over the weekend by 10 basis points to 4.84 per cent. McLister said RateSpy estimates the same discretionary rate for all of the banks, as they are all competing for the most qualified borrowers and are likely to price match. Phil Soper, president of Realtor Royal LePage, said the lenders could be waiting until spring, the peak real estate season, before cutting fixedrate mortgages more aggressively. " Announcing a discount on their mortgage rates right now would be like announcing Boxing Day prices in November," Soper said. - The Canadian Press Banks cut prime rates By Alexandra Posadzki Starting to lower fixed- rate mortgages R EGINA - A coalition of agriculture associations says the grain industry is dealing with deteriorating rail service and an 11 per cent shortfall in the supply of railway cars. The Ag Transport Coalition released a report saying the railways have failed to supply more than 11,000 cars that were ordered in the first five months of the crop year. The report also said the shortfall has continued to grow each week. Wade Sobkowich, executive director of the Western Grain Elevator Association, said he's concerned the demand for railway cars is exceeding the supply. " It makes it problematic when we are trying to draw in products from grain farmers and execute on sale contracts," he said. The report also found about half of delayed customer orders for railway cars have been outstanding for at least one month. Sobkowich said transportation delays are causing long- term problems. " We're not getting as much shipping to the United States and Mexico... those are corridors where demand has fallen off because car supply has fallen off." Service is better than last year, however, which saw months of railway backlogs after a bumper grain crop, he added. In that fallout, Canadian National Railway and Canadian Pacific Railway were fined a combined total of $ 150,000 for failing to transport the minimum required grain volumes as set out by the federal government. Farm lobby groups in Saskatchewan and Manitoba said the fines didn't reflect the damage caused by the delays. CN was billed $ 100,000 for violations related to shipments for the weeks of July 28 and Sept. 7. Canadian Pacific, which was assessed a $ 50,000 penalty for the week of Sept. 7, is disputing the fine on the basis the shortfall was a result of matters beyond its control. CP spokesman Jeremy Berry said Tuesday the railway has transported 12 per cent more grain this crop year when compared to the same time period last year. " It is important to note that Week 21, the one referenced in the report as evidence of poor service, is over Christmas. Origin and destination terminals were shut down over Christmas, some for three days, affecting our ability to load and unload rail cars," Berry said in an email. He said there are still supply- chain problems. The coalition's report said 25 per cent of orders for train cars for that week were met. "( Canadian Pacific) has stressed and will continue to stress that Canadian grain loading is a function of the performance of all supply- chain members, and that the supply chain must operate on a 24/ 7 basis to support balanced pipelines, reduce congestion and drive velocity," Berry said. Calls to CN were not immediately returned. Earlier this month, Transport Canada said it was still reviewing fall data on grain volumes to ensure railways adhered to the volume requirements. Sobkowich said the improvement in service this year is partly because shippers were able to move higher volumes of grain in August compared to the previous year. He added warm weather has also helped - cold temperatures can affect brake systems, which forces railway companies to use shorter trains. - The Canadian Press By Clare Clancy Railing against the railroads Ag coalition says service deteriorating TROY FLEECE / THE CANADIAN PRESS FILES Rail cars are in short supply. B_ 07_ Jan- 28- 15_ FP_ 01. indd B7 1/ 27/ 15 7: 46: 27 PM ;