TSX edges higher as investors seek haven in gold

TORONTO (Reuters) – Canadian stocks edged higher on Tuesday as gold miners gained on rising bullion prices, with weak U.S. growth data and persistent fears about a European slowdown spurring investors to seek a safe haven. Canadian stocks avoided a fourth straight day of declines as the gold price gained more than 1 percent after hitting a four-week low on Monday and falling nearly 5 percent over the last two…

Retail sales power ahead in September

OTTAWA (Reuters) – Canadian consumers spent more than expected on retail purchases in September, particularly on new vehicles, in another sign of robust economic growth in the third quarter. Retail sales grew by 1 percent in the month, the biggest gain in almost a year and double the market forecast of a 0.5 percent increase, according to Statistics Canada data on Tuesday. Revised data for August showed sales were slightly…

Loonie flat as strong retail sales can’t calm nerves

TORONTO (Reuters) – The Canadian dollar ended unchanged against the U.S. currency on Tuesday as unrelenting fears about euro zone debt and the global outlook offset higher commodity prices and firm domestic economic data. Stock markets around the world drooped as record-high yields at a Spanish debt auction and a downward revision of U.S. economic growth kept investors away from riskier assets. Revised data on Tuesday showed U.S. gross domestic…

Major processing unit down at Syncrude Canada

CALGARY, Alberta (Reuters) – A major processing unit at the Syncrude Canada Ltd oil sands plant in northern Alberta suffered a disruption on Tuesday and the company, already dealing with an unplanned equipment outage, is working to restart it, Syncrude’s biggest stakeholder said. Canadian Oil Sands Ltd said crews were investigating the cause of a process upset at Coker 8-1, one of two such units at Syncrude’s upgrading plant. The…