By Mike Keerma
Citing unspecified technical problems, exchanges operated by the
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
Amazon.com 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
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.
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