For FullyInformed members here is the Market Direction Outlook for the Toronto Stock Exchange for Feb 12 2016.

Toronto Stock Exchange Drops 98.35 Points

The Toronto Stock Exchange dropped 98.353 points today to close at 12,087.37. The index intraday broke through the 12000 level. It managed to recover to close above the 12,000 level and leave the index with a higher low in place. However the technical outlook though remains poor with the index demonstrating the clear pattern of lower highs and lower lows.

Toronto Stock Exchange to Feb 11 2016

Toronto Stock Exchange to Feb 11 2016

Canadian Stocks Hit Hard Again

Manulife announced a huge write-down for the most recent quarterly earnings of over $300 million and announced a full year writedown for 2015 of over $800 million.  The stock collapsed over 11% in the morning and closed down 8.5% at $15.84

Cenovus slashed its dividend 69% to join other energy companies trying to shore up their companies to stay afloat in the hope that oil prices will rebound sooner rather than later. They also announced layoffs and a reduction in spending for 2016. The stock closed up 3.18%.

Telus announced slower subscriber growth than expected and pointed to lackluster sales in Alberta as the culprit.  Telus closed down 15 cents at $39.69 down 12% from its 52 week high.

Here is the Toronto Stock Exchange market direction outlook for Friday Feb 12 2016 ………. the rest of the TSX Market Direction Outlook is for FullyInformed Members.

TSX Market Direction Outlook for Feb 12 2016

FullyInformed Members can login through this link to read the latest market direction outlook for the Toronto Stock Exchange or they can sign in to the full members site here. Non-members can join here or review the benefits of a membership.


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