Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Canadian Pacific Railway Limited    CP   CA13645T1003

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

China data drags TSX to one-week low

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/03/2014 | 10:47pm CET

Canada's main stock index slipped on Friday to its lowest in a week, with sluggish economic data from China weighing on investor sentiment and causing declines in the heavyweight financial, materials and energy sectors.

A government survey showed that growth in China's services sector dropped to a four-month low in December as business expectations fell, adding to figures released earlier this week indicating weakness in the country's manufacturing industry.

After recording a 9.6 percent gain in 2013, the Toronto market declined for a second straight session.

"It's a little bit of a reality check. It probably reflects some position shifting as we begin the new year," said Elvis Picardo, strategist and vice president of research at Global Securities in Vancouver.

"Despite the weak start to the year, I don't think anything fundamental has changed in the outlook for equities."

Investors also paid attention to the U.S. Federal Reserve, whose monetary stimulus helped fuel global equity markets last year.

Ben Bernanke, in what could be his last speech as Fed chairman, said the U.S. central bank is no less committed to highly accommodative policy now that it has trimmed its bond-buying stimulus.

"The markets don't want to see aggressive Fed action," Picardo said. "A lot depends on what the pace of the scaling down is going to be going forward."

The Toronto Stock Exchange's S&P/TSX composite index <.GSPTSE> closed down 45.34 points, or 0.33 percent, at 13,548.85, after slipping to 13,521.75, its lowest since December 27.

Investors realize the need to rethink their expectations at the start of the year after the TSX's robust performance in 2013, its best since 2010.

"It's a good reminder that investors should put things in perspective, make sure that their expectations are appropriately set," said Craig Fehr, Canadian market strategist at Edward Jones in St. Louis, Missouri.

"A year like 2013 skews what investors should be expecting from not only equities, but from a balanced portfolio," he added. "2014 is about readjusting expectations."

Six of the 10 main sectors on the index were in the red in the session.

Energy shares were pulled lower by a drop in the price of U.S. crude oil.

Canadian Natural Resources Ltd (>> Canadian Natural Resources Limited) lost 0.9 percent to C$35.03, having the biggest negative influence on the market. Suncor Energy Inc (>> Suncor Energy Inc.) declined 0.6 percent to C$36.58.

Financials, the index's most heavily weighted sector, were down 0.2 percent. Royal Bank of Canada (>> Royal Bank of Canada), the country's biggest lender, gave back 0.3 percent to C$71.39.

The materials group also stumbled, weighed by a 1.7 percent drop in Goldcorp Inc (>> Goldcorp Inc.).

In corporate news, Canadian Pacific Railway Ltd (>> Canadian Pacific Railway Limited) said late on Thursday it would sell the western part of its Dakota, Minnesota & Eastern Railroad to U.S.-based Genesee & Wyoming Inc (>> Genesee & Wyoming Inc) in a deal worth about $210 million. CP shares edged up to C$159.45.

(Editing by Chris Reese and Chizu Nomiyama)

By John Tilak

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CANADIAN PACIFIC RAILWAY L
01:20p CANADIAN PACIFIC RAILWAY : CP enhances Sales and Marketing team, names John Broo..
02/22 CANADIAN PACIFIC RAILWAY LIMITED : (CP) Shares Sold by Fiera Capital Corp
02/21 CANADIAN PACIFIC RAILWAY LIMITED (TS : CP) Files An 8-K Departure of Directors o..
02/21 CANADIAN PACIFIC RAILWAY LTD/CN : Financial Statements and Exhibits (form 8-K)
02/17 CANADIAN PACIFIC RAILWAY LIMITED (TS : CP) Files An 8-K Other Events
02/17 CANADIAN PACIFIC RAILWAY LTD/CN : Other Events, Financial Statements and Exhibit..
02/16 CANADIAN PACIFIC RAILWAY : announces filing of Annual Report on Form 10-K
02/16 CANADIAN PACIFIC RAILWAY LT : CN MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCI..
02/16 CANADIAN PACIFIC RAILWAY LIMITED : (CP) Plans C$0.50 Quarterly Dividend
02/15 CANADIAN PACIFIC RAILWAY : CP launches awareness campaign for inward-facing came..
More news
Sector news : Ground Freight & Logistics - NEC
02/22DJXPO LOGISTICS : Today's Top Supply Chain and Logistics News From WSJ
02/22DJCSX : CEO To Retire; Layoffs Total 1,000 -- WSJ
02/21DJCSX : Chief to Retire as Hunter Harrison Vies for Position--Update
02/21DJCSX : Chief to Retire as Hunter Harrison Vies for Position
02/17DJCSX : Today's Top Supply Chain and Logistics News From WSJ
More sector news : Ground Freight & Logistics - NEC
News from SeekingAlpha
02/23 Can 20 Financial Ratios Measure A Company's Moat Just Like Morningstar? Updat..
02/23 Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q4 2016 Update
02/20 CSX : Fighting A Losing Battle
02/14 Canadian Pacific Railway declares CAD 0.50 dividend
02/13 Canadian Pacific Is Discounted Versus Canadian National Suggesting Stronger G..
Advertisement
Financials ( CAD)
Sales 2017 6 518 M
EBIT 2017 2 815 M
Net income 2017 1 698 M
Debt 2017 8 186 M
Yield 2017 1,05%
P/E ratio 2017 16,03
P/E ratio 2018 15,26
EV / Sales 2017 5,67x
EV / Sales 2018 5,38x
Capitalization 28 778 M
More Financials
Chart CANADIAN PACIFIC RAILWAY L
Duration : Period :
Canadian Pacific Railway L Technical Analysis Chart | CP | CA13645T1003 | 4-Traders
Full-screen chart
Technical analysis trends CANADIAN PACIFIC ...
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 217  CAD
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Keith Edward Creel President, Chief Executive Officer & Director
Andrew Fitzpatrick Reardon Chairman
Nadeem Velani Chief Financial Officer & Vice President
Michael John Redeker Chief Information Officer & Vice President
Ubavka Rebecca MacDonald Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CANADIAN PACIFIC RAILW..1.88%21 969
UNION PACIFIC CORPORAT..5.01%86 832
CANADIAN NATIONAL RAIL..2.84%54 329
CSX CORPORATION34.68%44 386
NORFOLK SOUTHERN CORP.13.19%34 875
C.H. ROBINSON WORLDWID..8.46%11 261
More Results