TSX lower after disappointing jobs report

The Toronto stock market was slightly lower amid disappointing jobs figures that showed the Canadian economy lost an unexpected 9,400 jobs in June.The S&P/TSX composite index dipped 10.59 points to 15,103.89, pushed down by energy and metals but countered by rising gold and materials stocks.The worse-than-expected jobs numbers also put pressure on the Canadian dollar, which fell 0.48 of a cent to 93.44 cents US.Statistics Canada reported that the economy had an unexpected loss of 9,400 jobs in June, with the unemployment rate rising one-tenth of a point to 7.1 per cent — the highest since last December. Full-time employment rose by 33,500, partly making up for the loss of 43,000 part-time jobs.Economists had expected another big month of job creation following May’s 25,800 gain, but June resumed what has become a year-long trend of weak demand for workers. Economists had forecasted that 24,000 jobs would’ve been created last month.With no U.S. economic data set for release, the Dow Jones industrials fell 31.44 points to 16,883.63, the Nasdaq lost 1.57 points to 4,394.63, while the S&P futures dipped 3.31 points to 1,961.37.World markets took a hit Thursday amid rising concerns over Europe’s financial stability Portugal’s Espirito Santo International, which own’s the country’s largest bank, reportedly missed a debt payment this week and was cited for accounting irregularities, echoing issues that sparked Europe’s debt crisis four years ago.On Friday, senior Portuguese officials dismissed the speculation that it is by saying it had a 2.1 billion-euro (US$2.8 billion) cash cushion which is enough to cover its exposure to other Espirito Santo group companies and keep it within regulatory requirements.In corporate news, Wells Fargo reported its second-quarter profit rose three per cent, bolstered by loan growth, higher deposit balances and improved credit quality. Revenue slipped, but still topped analysts’ estimates. The largest mortgage lender in the U.S. said net income after taking out dividends on preferred stock was $5.42 billion, or $1.01 per share, for the period ended June 30. A year ago it earned $5.27 billion, or 98 cents per share.Meanwhile, in commodities, the price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.Oil prices shot up in the last month to a 10-month high of more than US$107 a barrel over concerns that strife in Iraq might disrupt supplies. However, they have since been easing back down as al-Qaida inspired militants’ gains in Iraq did not affect oil exporters. Also putting downward pressure on prices is the prospect of a sudden return of Libyan oil to the global market.On the commodity markets, the August crude contract on the New York Mercantile Exchange down 85 cents to US$102.08 a barrel.August bullion was down $1.30 to US$1,337.9 an ounce, while August copper was down a penny to US$3.25 a pound. read more

Hachimuras shot lifts No 1 Gonzaga over Washington 8179

SPOKANE, Wash. — Rui Hachimura’s short jumper with half a second left lifted top-ranked Gonzaga to an 81-79 win over in-state rival Washington on Wednesday night.Hachimura had 26 points for Gonzaga (9-0), which has won 12 of its past 13 games against the Huskies.Washington missed a halfcourt shot as the final buzzer sounded.Jaylen Nowell scored 26 for Washington (6-3), which was in the preseason Top 25 before losing at No. 8 Auburn.Washington’s zone defence slowed down the high-scoring Bulldogs. They were held well below their season average of 98 points per game, which ranked second in the nation.Hachimura had 18 points as Gonzaga took a 40-30 halftime lead.Washington shot just 39 per cent in the first period, while Gonzaga shot 41 per cent and sank all 10 of its free throws.Washington opened the second half with a 12-2 run, and Jaylen Nowell’s 3-pointer tied the score at 42. Nowell followed with another 3 for a 45-42 lead, as Gonzaga made just one of its first 11 shots in the second.Gonzaga replied with a 7-0 run for a 49-45 advantage.The teams traded a flurry of baskets, and a pair by Brandon Clarke gave Gonzaga a 65-58 lead.Nowell’s basket cut it to 79-75 with a minute left, and Matisse Thybulle’s bucket trimmed the deficit to two.Nowell went to the free throw line with 9.4 seconds left and tied the score at 79.BIG PICTUREWashington: The Huskies held their previous six opponents under 70 points. … Thybulle was the only player in the nation averaging at least 2.5 blocks and 2.8 steals per game. … Noah Dickerson averaged 20 points in his previous four games. … The Huskies were averaging seven blocks per game.Gonzaga: The Zags came in 35-18 against members of the Pac-12 under coach Mark Few. … Gonzaga entered with four starters averaging in double figures, and two more scoring better than eight points per game.UP NEXTWashington hosts crosstown rival Seattle on Sunday.Gonzaga gets a major test when it plays No. 7 Tennessee in Phoenix on Sunday.___More AP college basketball: https://apnews.com/Collegebasketball and https://twitter.com/AP_Top25Nicholas K. Geranios, The Associated Press read more