Gold Down as TSX Rises and Oil Holds Above 100
Toronto markets close with the S&P/TSX Composite at 12,148.73 up 67.48 as Nasdaq dips. Oil futures hover around 100.49 for January, while gold futures slip to 1,744.80 for February. Currency moves show the Canadian dollar at 98.98 U.S. cents and the euro at 1.3552 U.S. dollars.
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Toronto
S&P/TSX
ISX Venture Exchange
ISX
Encana to buy Hythe Steeprock midstream complex for 920 million
Veresen Inc agrees to sell the Hythe Steeprock gas gathering and processing complex in Alberta and British Columbia to Encana for 920 million. The deal includes 370 km of gathering lines and 516 million cubic feet per day capacity with a long term gas supply agreement and Veresen to operate post transition. Veresen also secures a 303 million bought deal financing to fund the acquisition.
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Calgary
Veresen Inc
TSX
VSN
Encana Corporation
ECA
Hythe
Steeprock
Cutbank Ridge
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British Columbia
Monthey
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Veresen
Paeana
Hythe /Steeprock
Encana
Stephen White
Hythes Steeprock
North America
Canada
Alliance Pipeline
Ontario
Prince Edward
Enbridge Increases Dividend Payout For 2024
Enbridge announces a 1 percent rise in quarterly dividend to 28 cents per share payable March to shareholders of record February 5. The Calgary based pipeline operator also provides 2024 earnings guidance around four dollars per share for adjusted earnings, aligning with analyst expectations.
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Calgary
Cross border plan aims to cut red tape and align rules
Ottawa hosts a Wednesday Action Plan on Regulatory Co operation to streamline cross border business. The pact lists 29 initiatives to align inspections for meat poultry autos rail and health products and cut border inefficiencies costing Canada about 16 billion yearly. PM Harper in Washington stressed no loss of sovereignty while noting advances to reduce redundant requirements and speed two way trade which totals about 500 billion annually.
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Ottawa
David Jacobson
Chicago
Canada
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