Closing Bell TSX heads higher on positive eurozone news

TORONTO — The Toronto stock market closed modestly higher Tuesday amid data that indicated the eurozone economy is improving and a positive reception for BlackBerry’s new Z10 smartphone.Here are the closing numbersTSX — 12,745.65 + 28.03 +0.2%S&P 500 — 1,511.29 +15.58 +1.0%Dow — 13,979.30 +99.22 +0.7%Nasdaq — 3,171.58 +40.41 +1.3%The S&P/TSX composite index was off early highs partly because of declining gold stocks but still ahead 28.02 points to 12,745.65 while the TSX Venture Exchange was down 1.23 points at 1,215.27.BlackBerry (TSX:BB)(NASDAQ:BBRY) shares were up 95 cents, or 6.34%, to $15.94 on very heavy volume of 18 million shares on the TSX as the new touchscreen device went on sale in Canada. It went on sale in the U.K. last week but won’t be available in the U.S. until mid-March because of further testing being done by U.S. phone carriers.The stock has been very volatile since the new product was launched last Wednesday and analysts say that won’t change until BlackBerry’s next earnings are released in a couple of months and investors find out just how well the phone has sold.“They’ve at least rolled the product up, so people can touch it, feel it, use it,” said Craig Fehr, Canadian markets specialist with Edward Jones in St. Louis.“(But) at the end of the day, it’s going to be about phone sales. It’s going to be about contracts, revenues and what they do with their cash position, how much they will have to pay to make themselves a little bit more relevant again in this smartphone space. And all of that remains a question mark.”There was also major acquisition activity in the tech sector as computer maker Dell agreed to be taken private by its founder and a group of investors that includes Microsoft in a deal worth US$24.4 billion. Shareholders are receiving $13.65 per share for their stock. Dell shares inched up 15 cents to US$13.42.The Canadian dollar edged up 0.24 of a cent at 100.38 cents US.New York’s Dow Jones industrials advanced 99.22 points to 13,979.30.The Nasdaq climbed 40.41 points to 3,171.58 and the S&P 500 index gained 15.58 points to 1,511.29.Markit, a financial information group, said its purchasing managers’ index for the eurozone economy rose to a 10-month high of 48.6 in January from 47.2 in December.Despite the data, the region continues to face a number of headwinds, including the serious government debt problems of many of its members.Meanwhile, Italy’s general election at the end of this month looks like it may yield a split parliament, which would make it more difficult to push through much needed economic reforms. And the Spanish government is embroiled in a corruption scandal over alleged secret cash payments that has raised questions over the future of Prime Minister Mariano Rajoy.Worries about the eurozone helped send North American markets lower on Monday, prompting some investors to take profits from strong gains racked up in January.“What yesterday showed was that the financial crisis and the debt crisis in Europe is not solved and is still one of those things that can cut the strings from this rally a bit,” added Fehr.“But I think this data does show that it’s the rate of change that’s really improving. We’re seeing a slowdown in the rate of contraction which has to start before you grow again.”The consumer staples sector was the second biggest advancer next to the tech sector as grocer Loblaw Cos. (TSX:L) gained 58 cents to $40.77.Industrial stocks helped take the TSX higher with transport giant Bombardier Inc. (TSX:BBD.B) ahead a dime to $4.05.The energy sector was up 0.57% with the March crude contract on the New York Mercantile Exchange up 47 cents to US$96.64 a barrel. Suncor Energy (TSX:SU) climbed 22 cents to C$34.38.March copper was unchanged at US$3.77 a pound and the base metals sector 0.23 added%. Teck Resources (TSX:TCK.B) ran up 36 cents to C$36.87.The gold sector was the leading TSX decliner, down about 0.5% while April bullion declined $2.90 to US$1,673.50 an ounce. Alamos Gold (TSX:AGI) faded 28 cents to C$15.03.On the earnings front, telecom provider Bell Aliant Inc. (TSX:BA) says it had $70 million of net income or 31 cents a share in the fourth quarter, a $10-million decline from the same period of 2011. Adjusted earnings came in at 37 cents, four cents less than expectations. The regional telecom company’s operating revenue was down 0.8% to $695 million and its shares were up 63 cents to $26.18.In other corporate developments, the two rival groups that have been competing to buy Primaris Retail Real Estate Investment Trust (TSX:PMZ.UN), one of Canada’s largest shopping mall operators, have reached a $4.6-billion compromise. Some of the Primaris properties will be bought by the KingSett Capital consortium but H&R Real Estate Investment Trust (TSX:HR.UN) will end up owning Primaris and the rest of its portfolio. Primaris units were 57 cents higher to $27.50 while H&R units lost 16 cents to $23.50.U.S. indexes were also lifted by solid housing data. Home prices jumped by the most in 6 1/2 years in December, helped along by a low supply of available homes and rising demand. CoreLogic, a real estate data provider, says home prices rose 8.3% in December compared with a year earlier.However, the Institute for Supply Management’s index of non-manufacturing activity dipped to 55.2 in January from 55.7 in December. That’s above the 12-month average of 54.5. The report measures growth in industries that cover 90% of the work force, including retail, construction, health care and financial services.Here’s the news investors were watching today:BlackBerry Z10 looks set for record sales on first day in CanadaDell going private in US$24-billion dealToronto home prices jump even as sales declinePiper Jaffray advises investors to buy McGraw-Hill after stock plunges over $5-billion S&P rating lawsuitON DECK WEDNESDAYECONOMIC NEWSCANADA10 a.m.Ivey Purchasing Managers’ Index (Jan): Economists expect a reading of 53.9, up from last month CORPORATE NEWSCANADATMX Group Q4 earnings: Analysts expect 77¢ a share WestJet Q4 earnings: Analysts expect 42¢ Gildan Activewear Q1 earnings: Analysts expect 30¢ Canaccord Financial Q3 earnings: Analysts expect 16¢ Sierra Wireless Q4 earnings: Analysts expect 19¢  UNITED STATESVisa Inc Q1 earnings: Analysts expect US$1.79 Time Warner Inc Q4 earnings: Analysts expect US$1.10 Prudential Financial Inc Q4 earnings: Analysts expect US$1.74 The News Corp Q2 earnings: Analysts expect 42¢ Marathon Oil Corp Q4 earnings: Analysts expect 67¢ IntercontinentalExchange Inc Q4 earnings: Analysts expect US$1.75 read more

Ryanair creeps closer to 80m annual passengers after positive May

first_imgRYANAIR HAS INCHED closer to a major landmark in passenger numbers after recording a 5 per cent increase in the number of people taking flights in May.The no-frills airline carried 7.86 million passengers last month, an increase of 350,000 on the equivalent period in 2012.The 5 per cent monthly increase means the airline’s total passenger numbers in the last 12 months have grown by 4 per cent – standing at 79.8 million passengers.The airline now stands poised to break the 80 million passengers barrier for the first time, and may past that milestone when its figures for June are reported.Last June the airline carried 4,397,627 passengers – a number which will need to increase by 5.2 per cent next month, to 4,626,463, if the barrier is to be breached.Ryanair also reported a minor increase in its load factor, a way of measuring the quantity of seats filled on each flight.Last month 82 per cent of all seats on Ryanair flights were occupied, matching the rolling 12-month average since the start of last year.The annual passenger figure of 79.8 million consolidates Ryanair’s position as the largest airline in Europe by passenger numbers, and the sixth-busiest in the world.Air France-KLM carried 77.1 million passengers in 2012, ahead of Lufthansa at 74.7 million.Delta Air Lines, the world’s most popular airline, carried 164.6 million passengers last year.Read: Ryanair may be forced to reduce its stake in rival Aer Linguslast_img read more