Nerves Setting In, BoC Murky On Rates -- Canadian Commentary

(RTTNews) - Canadian stocks continued to fall Thursday amid a murky outlook for interest rates and concerns about NAFTA.

Also, the U.S. dollar recovered on comments from President Trump, so the recent rally in commodities like oil and gold fizzled.

A day after remarks from Treasury Secretary Steve Mnuching advocating a weak dollar, President Donald Trump said the currency will only get "stronger and stronger."

Meanwhile, the Bank of Canada head Poloz said he is not sure if more rate hikes are coming this year.

The TSX Composite Index was down 80.20 points to 16,204, with Valeant (VRX.TO) and marijuana stocks coming under pressure.

In corporate news, Rogers Communications Inc. (RCI.TO) revealed a profit for its fourth quarter that rose from last year. Still, the company added a disappointing number of wireless subscribers due to a "computer glitch."

Its CEO said Rogers is not selling the Blue Jays of baseball. Shares were down 1.2 percent.

Celestica (CLS.TO) reported fourth quarter revenue and profit that slightly missed expectations, and forecast this quarter's earnings below. Shares fell sharply in afterhours trade.

The company has acquired US-based ruggerdised electromechanical systems specialist Atrenne Integrated Solutions for $139 million. Shares fell 6 percent.

In economic news, Canada's retail sales increased for the third consecutive month in November, rising 0.2% to $50.1 billion. Sales were up in 6 of 11 subsectors, representing 37% of total retail trade.

The European Central Bank left its key interest rates and asset purchases unchanged on Thursday. In contrast to expectations, there was hardly any change in the wording of the forward guidance.