TSX – End of Day Recap by PleasantLifestyle.com
S&P/TSX rose 104.26, closed at 14125.11, an increase of 0.74%.
Research In Motion (RIM.TO) announced that it earned approximately 50 cents per share for the three months ending September 1st. This is an increase from 25 cents per share same period last year. This caused RIM’s stock prices to have a gain of 4.28 Cdn, at a closing price of 100.30 Cdn. This seems to indicate RIM’s stock price would eventually rise back to the point around 200′s, a price level that seizes to exists after the stock split. However, considering the split occurred on August 15th, 2007. With a closing price on that day of 71.19, RIM’s monthly gain is almost 10 Cdn per month. However, it is still in my high risk Stock section, considering its rivals are Apple Inc, LG, Nokia, and Motorola. While most of its rivals still have other products as a backup in sales, RIM’s primary product is also its only product, the Blackberry mobile phone.
Mark Carney will succeed David Doge as the governor of the Bank of Canada. Dodge’s seven-year term expires in January, and therefore Carney’s term begins on Feb 1st, 2008.
Just who is Mark Carney? He holds a PhD in Economics from Oxford University, before joining the government of Canada, he was the managing director of Goldman Sachs Canada’s investment banking division. Once he started working for the Canadian government, he became the deputy governor at the Bank of Canada from August 2003 to November 2004. In 2004, he was appointed the senior associate deputy minister of finance by the Deputy Minister of Finance at the time, Ian E. Bennett. Carney was also the deputy for G7 affairs. During 2004, the government’s 19% stake in Petro-Canada was sold for 3.2 Billion Canadian, Carney was also behind this strategy.
Friday would be another exciting day, the September’s Jobs report will be release and this report along would show signs in indicated what type of closing we’ll have for the day tomorrow and what to expect for the next week or so.