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“TMX Market Incident”: All Toronto Stock Exchange, TMX Systems Down, Will Not Reopen Friday

UPDATE: The Toronto Exchange will not be opening for the rest of the day as per the latest exchange update:

TMX has decided to shut down all markets for the remainder of the day. Trading will not resume today, including market on close. We apologize for the inconvenience. Further updates will be provided.

* * *

The TMX Group, operator of the Toronto Stock Exchange and the Montreal Exchange, says technical problems have affected the Toronto Stock Exchange, Montreal Exchange and other markets.

Trading on the exchange reportedly stopped at 1:39pm local time, after which point no users were able to connect to exchanges. TMX says it’s investigating, providing updates.


Please be aware that TMX equity markets are experiencing issues with trading, all users are equally impacted and are unable to connect to our Exchanges. We apologize for the inconvenience and continue to investigate. Further updates will be provided.


According to subsequent updates by TMX, which classifies today’s anomaly as a “Markets Incident“, the event continues:

  • UPDATE 2 – Please be aware that TMX continues to experience issues on all markets. We apologize for the inconvenience. Further updates will be provided.
  • UPDATE 3 – Please be aware that all TMX markets continue to experience issues. We apologize for the inconvenience. Further updates will be provided.

The S&P/TSX Index was up 31 points or 0.2 per cent at 1:39 p.m., the last time Friday’s trading volume was updated on all charts. It appears the Toronto Venture Exchange also went down at the same time.

 

 

 

TSX falls 373 points as commodities sell off again

TSX falls 373 points as commodities sell off again

Canadian dollar loses almost half a cent to close at 74.66 cents US.

Canada’s benchmark stock index lost almost 2.8 per cent on another bleak Monday for commodities like oil, gold and copper.

The S&P/TSX Composite Index lost 373 points to close at 13,004. That’s the lowest level for Canada’s benchmark stock index since October 2013.

The TSX is now down by almost six per cent since the start of September. If that holds until Wednesday, the last day of the month, it will be the worst month for the index since 2012, and the June-to-September period would be the worst three-month period for Canada’s benchmark stock index since 2011.

Almost all of the sub-sectors were lower. Commodities were especially hard hit as the December gold contract fell $13.40 to $1,132.20 US an ounce and the November crude oil contract was down $1.23 at $44.47 US a barrel.

The gloom in commodities was largely tied to more news out of China about that country’s slowing economy. Profits at Chinese industrial firms dropped by the largest amount on record since Beijing started releasing the data in 2011.

“Whenever the market is down, the first place to look these days is China,” John Manley, chief equity strategist at Wells Fargo Fund Management, told The Associated Press.

“Right now, we need evidence that China is not slowing that much and that profits are still going to be OK.”

Alcoa splitting in two

In corporate news, one of the world’s largest mining companies, Alcoa, was a bright spot for mining stocks with the stock rising about six per cent on the NYSE. But that optimism was only because the company announced it was splitting itself into two, to insulate its growing and profitable aerospace and automotive business from its sagging base metals business, which primarily consists of aluminum assets.

Prior to Monday’s bounce, Alcoa shares had lost more than 40 per cent this year as the price of metals cratered.

The Canadian dollar lost almost half a cent amid the gloom, to close at 74.66 cents US.

…click on the above link to read the rest of the article…

TSX and Dow plunge again on fears of China-led slowdown

TSX and Dow plunge again on fears of China-led slowdown

Dow in correction territory as investors hit ‘sell’ button

North American stock markets closed sharply lower again today, ending what was a dismal week for equities as fears about the global economy and falling oil prices had many investors selling.

The main benchmark index of the Toronto Stock Exchange sank to its lowest point in almost 18 months. It ended a busy trading day down 263 points, or 1.9 per cent, at 13,473. That followed a drop of almost 300 points on Thursday. Once again, the heavily weighted financial and energy groups led the declines.

“Everybody’s concerned about China,” said David Baskin, president of Baskin Wealth Management. ‘If there’s lower growth or even a recession in China, obviously that has a major impact because that’s, by most measures, the second biggest economy in the world.”

Much of the TSX’s slide stems from oil, which has now declined for eight straight weeks. That’s the longest losing streak for oil since 1986, a time when OPEC drove the price down as low as $10 a barrel. Oil settled Friday at $40.45 US a barrel, down 87 cents. At one point, it traded as low as $39.86, the first time it had dipped below $40 since 2009.

The Dow Jones industrial average plunged 531 points, or 3.1 per cent, to close at 16,460. With that drop, the Dow entered official correction territory, which refers to a drop of at least 10 per cent from its most recent high.

 

The broader S&P 500 index suffered its biggest daily percentage drop in nearly four years.

European concerns

European markets were also rattled by news that Greek PM Alexis Tsipras would step down and hold new elections on Sept. 20.

 

…click on the above link to read the rest of the article…

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