* TSX ends up 72.19 points, or 0.4%, at 20,525.45. * Posts its highest closing level since June 9. * Technology sector gains 2.8% * CIBC shares fall 7.7% By Fergal Smith. TORONTO, Dec 1 - Canada's main stock index rose on Thursday to its highest closing level in nearly six months as technology and gold mining shares climbed and despite mixed earnings reports from major banks.
-Wells Fargo & Co (WFC) has cut hundreds of jobs in its mortgage business across the country, Bloomberg News reported on Thursday citing people familiar with the bank's plans. Higher inflation and rapidly rising mortgage rates have started to weigh on the housing market as buying homes becomes costlier, hitting what was until last year a booming industry.
Wells Fargo & Co (WFC) has cut hundreds of jobs in its mortgage business across the country, Bloomberg News reported on Thursday citing people familiar with the bank's plans. Higher inflation and rapidly rising mortgage rates have started to weigh on the housing market as buying homes becomes costlier, hitting what was until last year a booming industry.
Mexico's manufacturing sector expanded for a third straight month in November, picking up its pace of growth slightly, as tentative signs pointed to a recovery in demand conditions, overall sales stabilized and jobs were created, a survey showed Thursday.
* Canadian factory sector activity slows for fourth month. * Bank stocks fall after CIBC, BMO and TD report results. By Johann M Cherian. Canada's main stock index rose for the third-straight session on Thursday, supported by technology and commodity-linked shares, while investors digested mixed manufacturing data.
Companies in Germany, Europe's largest economy, are looking to hire more staff, with a particular rise in demand in the service sector, the Ifo economic institute said on Thursday. Ifo said its employment barometer rose to 99.6 points in November from 97.8 points in October. "Against the backdrop of decreasing uncertainty, the number of employees in Germany could continue to rise.
Pfizer Inc (PFE) plans to invest more than 1.2 billion euros to expand manufacturing at its plant in Dublin, it said on Thursday, handing the Irish multinational sector a jobs boost at a time when major tech firms are laying off staff.
U.S. manufacturing activity contracted for the first time in 2-1/2 years in November as higher borrowing costs weighed on demand for goods, but a measure of prices paid by factories for inputs fell for a second straight month, supporting views that inflation could continue trending lower. The Institute for Supply Management said on Thursday that its manufacturing PMI fell to 49.0 last month.
Canadian manufacturing activity weakened for a fourth straight month in November as worries that the economy would slip into recession undercut demand, but the pace of contraction and a measure of inflation pressures eased, data showed on Thursday. The S&P Global Canada Manufacturing Purchasing Managers' Index rose to a seasonally adjusted 49.6 in November from 48.8 in October.
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