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Weekly market wrap April 27, 2018: TSX gains on the week, while U.S. indices remain flat
3/20/2019 6:18:12 PM
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By Fund Library News Wire  | Friday, April 27, 2018


By Mike Keerma

Citing unspecified technical problems, exchanges operated by the Toronto-based TMX Group Ltd. (TSX: X) closed at 3:00 pm on Friday. Still, Toronto’s benchmark S&P/TSX Composite Index registered a 1.2% advance for the week, in the absence of any generally negative news to pressure Canadian stocks to the downside. In the U.S., solid quarterly earnings from tech bellwethers Inc. (NASDAQ: AMZN), Facebook Inc. (NASDAQ: FB), and Microsoft Corp. (NASDAQ: MSFT), as well as above-consensus 2.3% annualized first-quarter U.S. GDP growth, helped keep the S&P 500 Composite Index afloat, breaking even on the week, while the Nasdaq Composite Index edged down 0.4%. Helping support stocks was a retreat in the yield on 10-year U.S. Treasury notes from the 3.0% level, to close the week at 2.96%. Gold, meanwhile, lost 1.0% on the week, while West Texas Intermediate crude oil retreated 0.3%.


* Manulife to shut down oil sands fund. Manulife Investments announced plans to terminate its closed-end Oil Sands Sector Fund (TSX: OSF.UN) on June 29, at which time the units will be delisted from the TSX. In a release, Manulife said that unitholders do not need to take any action in connection with the termination of the Fund, and that assets will be distributed to remaining unitholders on July 6.

* Evolve plans innovation-tracking ETF. Evolve Funds Group Inc. has filed a final prospectus for its Evolve Innovation Index ETF (TSX: EDGE), which has been conditionally approved to begin trading on May 2. The ETF tracks the Solactive Global Innovation Index of companies that are involved in innovative or disruptive trends across a broad range of industries in Robotics and Automation, Future Cars, Cyber Security, Big Data and Cloud Computing, Genomics, and Social Media.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

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The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

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