17:06:22 EDT Thu 28 Mar 2024
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USA
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Barrick Gold Corp
Symbol ABX
Shares Issued 1,164,669,608
Close 2014-12-08 C$ 13.27
Market Cap C$ 15,455,165,698
Recent Sedar Documents

Globe says Cdn Oil Sands, others gritting their teeth

2014-12-08 06:28 ET - In the News

See In the News (C-COS) Canadian Oil Sands Ltd

The Globe and Mail reports in its Saturday, Dec. 6, edition that Canada's stock market may be a chronic laggard. The Globe's David Berman writes that the S&P/TSX composite index has dropped 4.2 per cent in the past two weeks, including Thursday's 284-point plunge -- its worst one-day decline in over a year. Canadian Oil Sands, a company that defines the sector, has cut its dividend dramatically in an effort to buttress its balance sheet. There are problems elsewhere, too. Gold miners are suffering from high expenses and lower gold prices. Canadian banks are turning cautious about their earnings outlook for the upcoming year, due to low interest rates and high consumer debt levels. Mr. Berman says longer-term performance numbers suggest the Canadian stock market will challenge investor patience. Canadian stocks are lagging the gains in United States stocks in 2014, putting them on track for their fourth straight year of underperformance. The index is skewed toward cyclical sectors that tend to rise and fall with the business cycle, rewarding nimble investors who can time their entries and exits but punishing investors who prefer to buy and hold.

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