Latest from The Market Online
The Market Online
11 hours ago
- Business
- The Market Online
@ the Bell: Tensions abroad, caution at home
Canada's main stock index moved lower on Thursday weighed down by losses in consumer discretionary stocks, as investors remained cautious amid escalating tensions in the Middle East and uncertainty over potential US involvement in the conflict. Traders are now looking ahead to Friday's release of Canadian retail sales data for April, which will offer insights into whether consumer spending has remained strong despite ongoing concerns about tariffs. Meanwhile, US President Donald Trump added to global uncertainty by refusing to clarify whether the United States would support Israel's strikes on Iranian nuclear facilities, stating, 'I may do it. I may not do it.' US markets were closed for the 'Juneteenth' holiday. The Canadian dollar traded for 72.97 cents US compared to 73.01 cents US on Wednesday. US crude futures traded $0.66 higher at US$75.80 a barrel, and the Brent contract rose US$2.15 to US$78.85 a barrel. The price of gold was down US$19.64 to US$3,370.43. In world markets, the Nikkei was down 396.81 points to ¥38,488.34, the Hang Seng was down 472.95 points to HK$23,237.74, the FTSE was down 51.67 points to ₤8,791.80, and the DAX was down 260.43 points to €23,057.38.
The Market Online
17 hours ago
- Business
- The Market Online
TSX futures edge down on fears of U.S. entry into Israel-Iran clash
TSX futures dipped slightly as investors weighed the risk of deeper U.S. entanglement in the escalating Israel-Iran conflict. Market Numbers (Futures) TSX :Down ( 0.10%) 26,533.290TSXV: Down (0.58%) 718.64DOW: Down (0.46%) 41,996.00NASDAQ: Down (0.60%) 21,590.75 FTSE: Down (0.37%) 8,810.71 In the Headlines: A Bloc Québécois bill to shield Canada's supply management system is racing through Parliament, putting pressure on Ottawa ahead of future trade talks. Currencies Update: (Futures) The Canadian dollar is holding at $0.7288 cents US down 0.08%, losing charge against the Euro by 0.20% to $0.6351 and Bitcoin sits almost stagnant this morning down 0.01% to 143,653.92 And Investors are awaiting Canadian retail sales data for April set to be released on Friday to assess whether consumer spending has been resilient in the face of tariff uncertainty. Commodities: (Futures) Natural Gas: Up (2.30%), 4.08WTI: Down (0.99%), 74.38Gold: Down (0.02%), 3,368.28 Copper: Down (0.20%) 6.06 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
The Market Online
17 hours ago
- Business
- The Market Online
In an increasingly volatile word, this Canadian drone company is shoring up more strength
Volatus Aerospace (TSXV:FLT) announced a major financial boost with a C$3 million investment from Investissement Québec This new funding increases the total support from the Québec government agency to C$10.5 million, up from the original C$7.5 million announced in October 2024 Volatus plans to use the funds to grow its operations and speed up the development of its drone and aerial technologies in key industries Volatus Aerospace stock (TSXV:FLT) last traded at $0.23 Volatus Aerospace (TSXV:FLT) announced a major financial boost with a C$3 million investment from Investissement Québec. This new funding increases the total support from the Québec government agency to C$10.5 million, up from the original C$7.5 million announced in October 2024. The investment comes in the form of a convertible debenture—a type of loan that can be turned into company shares. This debenture has a five-year term, carries an annual interest rate of 12.5 per cent, and gives Investissement Québec the option to convert the loan into Volatus shares at a price of $0.202 per share. Volatus plans to use the funds to grow its operations and speed up the development of its drone and aerial technologies in key industries like oil and gas, energy utilities, public safety, and infrastructure. The company also aims to expand its services globally, especially as geopolitical tensions highlight the need for secure, local aerial solutions. In a media statement, the company further elaborated, 'Volatus will also gain additional financial flexibility as it seeks to grow its services business globally. Global geopolitical turmoil has put a renewed focus on securing local assets, and Volatus' platforms and technology can play a key part of this strategy at scale and cost.' In that news release, CEO Glen Lynch called this additional support from Investissement Québec, a great vote of confidence as the team continues to grow in its target markets. 'This financing will enable the company to achieve our near-term profitability goal and reinforce our base from which to go after global projects,' he said. Volatus provides global aerial solutions for intelligence and cargo serving the oil and gas, utilities, healthcare and public safety industries. Volatus Aerospace stock (TSXV:FLT) last traded at $0.23 and has risen 58.62 per cent since the year began, and it is flying 15.00 per cent higher than where it was this time last year. Join the discussion: Find out what everybody's saying about this drone stock on the Volatus Aerospace Inc. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
17 hours ago
- Business
- The Market Online
North America's lone cobalt refinery begins path to production
Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market Electra Battery Materials stock has given back 38.56 per cent year-over-year Electra Battery Materials (TSXV:ELBM) has initiated its early works program towards restarting North America's only cobalt refinery. The battery-grade facility, located north of Toronto, employs hydrometallurgical processing with a low-carbon focus, and could play a potentially meaningful role in onshoring North America's critical metals supply chain and increasing the continent's stake in the growing US$17 billion cobalt market, which is expected to post a 6.7 per cent compound annual growth rate through 2030. The early-works program, which will cost an estimated C$750,000, will focus primarily on the refinery's solvent extraction (SX) facility, including: Installing previously delivered processing equipment. Pouring reinforced concrete bases for extraction tanks. Finalizing roofing work. Concurrently, tender and engineering preparations are underway to streamline the path to full-scale construction. These activities follow a C$200,000 upgrade to the refinery's septic, power and lighting systems, as well as the recent delivery of a prefabricated electrical house. The restart is partially supported by US$20 million from the U.S. Department of Defense under the Defense Production Act, awarded in August 2024, in addition to funding from Canada's Strategic Innovation Fund. According to Thursday's news release, 'backed by strong government endorsements and the refinery already significantly advanced, Electra expects it will be able to finalize the balance of the financing required to move the refinery into production.' Leadership insights 'The early works program represents a critical step in transitioning the refinery site back to construction mode,' Mark Trevisiol, vice president of Projects at Electra Battery Materials, said in a statement. 'By focusing on key infrastructure, particularly in the SX area, we are ensuring the site is ready for a seamless ramp-up as soon as full funding is in place.' 'This project reflects our disciplined approach to advancing the refinery project,' commented Electra's chief financial officer, Marty Rendall. 'The early works program enables us to build critical infrastructure and maintain project momentum while we work to finalize the remaining elements of our funding package.' 'Our early works program is a clear signal: Electra is not standing still,' added Trent Mell, Electra's CEO. 'The early works program lays the physical and operational groundwork to accelerate into full construction. We are confident in our project and its strategic importance. Preparing for the final leg of construction is a reaffirmation of our commitment to delivering North America's only battery-grade cobalt refinery.' About Electra Battery Materials Electra is a critical minerals company focused on cobalt sulfate refining, nickel refining and battery recycling for the North American lithium-ion battery market. Electra Battery Materials stock (TSXV:ELBM) opened unchanged trading at C$1.45. The stock has given back 38.56 per cent year-over-year. Join the discussion: Find out what everybody's saying about this critical metals company on the Electra Battery Materials Corp. Bullboard and check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
The Market Online
18 hours ago
- Business
- The Market Online
Aurora Cannabis clears the air and denies MedLeaf acquisition news
Aurora Cannabis (TSX:ACB) issued a firm denial of recent misinformation circulating online regarding alleged acquisitions and strategic partnerships The company became aware of an article posted on a news website falsely claiming that Aurora had agreed to acquire New Zealand-based MedLeaf Therapeutics A second article incorrectly reported that Aurora had signed a partnership with MediPharm (TSX:LABS) distribute medical cannabis in Germany and other European Union markets Aurora Cannabis stock (TSX:ACB) last traded at C$6.40 Top Canadian global medical cannabis company Aurora Cannabis (TSX:ACB) has issued a firm denial of recent misinformation circulating online regarding alleged acquisitions and strategic partnerships. The company became aware of an article posted on a news website falsely claiming that Aurora had agreed to acquire New Zealand-based MedLeaf Therapeutics. Aurora categorically stated that it has not entered into any such agreement, has had no discussions with MedLeaf Therapeutics regarding a business combination, and has not released or filed any information suggesting such a transaction. Further compounding the issue, a second article published on June 18, 2025, by incorrectly reported that Aurora had signed a partnership with MediPharm (TSX:LABS) to distribute medical cannabis in Germany and other European Union markets (oof, that's awkward). Aurora has also denied this claim, stating unequivocally that no such agreement or discussions have taken place. Both articles, which claims were generated 'with the support of AI' and reviewed by an editor, have prompted Aurora to launch an internal investigation into the origin and dissemination of the misinformation. Aurora emphasized that it is not in possession of any material non-public information and reaffirmed its commitment to transparency. The company assured the market that any material corporate developments will be communicated directly and appropriately. The company urged investors to rely solely on official announcements and regulatory filings for accurate and up-to-date information. Aurora is a global cannabis company serving both the medical and consumer markets across Canada, Europe, Australia and South America. Its brand portfolio includes Drift, San Rafael '71, Daily Special, Tasty's, Being, Greybeard, MedReleaf, CanniMed, Aurora, Whistler Medical Marijuana Co., Pedanios, IndiMed and CraftPlant. Aurora Cannabis stock (TSX:ACB) last traded at C$6.40 and has risen 4.75 per cent since the year began, but has fallen 15.12 per cent since this time last year. Join the discussion: Find out what everybody's saying about this cannabis stock's expansion in Germany on the Aurora Cannabis Inc. Bullboard and check out Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
