Newspaper article The Canadian Press

Prep-Business Report

Newspaper article The Canadian Press

Prep-Business Report

Article excerpt

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(Markets)

Canada's main stock index closed marginally higher as gold rose as a shield against ongoing trade uncertainty and macroeconomic uncertainty.

The S&P/TSX composite index was up 15.14 points at 16,227.80.

In New York, the Dow Jones industrial average was up 181.09 points at 25,720.66.

The S&P 500 index was up 17.34 points at 2,843.49, while the Nasdaq composite was up 40.08 points at 7,615.55.

The Canadian dollar traded at an average of 74.75 cents U-S compared with an average of 74.62 cents on Wednesday.

The July crude contract was up 91 cents US at US$52.59 per barrel and the July natural gas contract was down 5.4 cents at US$2.32 per mmBTU.

The August gold contract was up US$9.10 at US$1,342.70 an ounce and the July copper contract was up 2.75 cents at US$2.65 a pound.

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(Fiat-Chrysler-Renault)

Fiat Chrysler is citing "political conditions in France" for its surprise decision to withdraw a merger offer with French carmaker Renault.

The decision stunned the industry, which had positively viewed the plan that would have created the world's third-largest automaker.

It appeared to be a done-deal when the Renault board met for a second day in Paris last night but Fiat Chrysler pulled out when the French government -- Renault's top shareholder -- asked for more time to seek the blessing of Renault's long-time alliance partner, Nissan.

The French government blamed Fiat Chrysler for the collapse -- saying it put "massive pressure" on Renault to quickly take the offer or leave it.

But it later softened its tone, indicating there might be room for future negotiation. (The Associated Press)

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(Saputo-Rslts)

Dairy processor Saputo says its fourth quarter profit declined even though acquisitions boosted revenue by 18 per cent.

The Montreal-based company earned 124.2-million dollars for the quarter -- down from 130-million a year earlier. …

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