(RTTNews) - The Canadian stock market is languishing in negative territory around noon on Friday, after opening on a weak note amid rising worries about U.S.-China tensions, and uncertainty about the pace of economic recovery due to the continued surge in coronavirus cases.
Materials and energy stocks are finding some support, while financial, utilities and healthcare shares are mostly lower. Consumer discretionary, information technology and industrial shares are turning in a mixed performance.
The benchmark S&P/TSX Composite Index is down 34.76 points or 0.22% at 15,983.80, after falling to a low of 15,928.42.
Among the prominent losers, Royal Bank of Canada (RY.TO) is down more than 2%, Suncor Energy (SU.TO) is declining 1.65% and Toronto-Dominion Bank (TD.TO) is lower by 1.25%, while Bank of Nova Scotia (BNS.TO) and Royal Bank of Canada (RY.TO) are both lower by about 1%.
Wheaton Precious Metals (WPM.TO) is rising nearly 5%. Kinross Gold Corp (K.TO) is gaining 1.8% and Canadian Natural Resources (CNQ.TO) is up 1.5%. Barrick Gold Corp (ABX.TO) and Shopify Inc. (SHOP.TO) are up 1.4% and 1.3%, respectively.
Yamana Gold Inc. (YRI.TO) reported that its second-quarter adjusted net earnings were $63.3 million or $0.07 per share compared to adjusted net earnings of $19.8 million or $0.02 per a year earlier. The stock is up nearly 6%.
Teck Resources (TECK.B.TO) is down by about 2.8%. The company reported adjusted basic earnings of C$0.17 per share for the second-quarter for the current year, compared with adjusted basic earnings of C$0.88 a year ago.
In commodities, West Texas Intermediate Crude oil futures for September are down $0.19 or 0.46% at $40.88 a barrel.
Gold futures for August are up $7.20 or about 0.4% at $1,897.20 an ounce, while Silver futures for September are down $0.108 or 0.47% at $22.880 an ounce.
U.S.-China tension have escalated after China revoked the license of the U.S. consulate in Chengdu, saying it is a "legitimate and necessary response to the unreasonable actions of the United States." Just a couple of days ago, the U.S. government had ordered China to close its consulate in Houston, Texas.
VANCOUVER, British Columbia, April 24, 2021 (GLOBE NEWSWIRE) -- Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (the “Company”) is pleased to announce its wholly owned subsidiary Vocan, has entered into a Collaborative Research Agreement with the University of British Columbia (“UBC” or the “University”). Research will be conducted in a 10,000 square foot well-equipped, technologically diverse and well funded lab located at the Lower Mall Research Station at the University. The Research Faculty has an extensive team including a principal investigator, Post-Doctoral fellows, lab manager, research technicians, and research associates.The collaboration gives the company access to cutting edge research facilities and innovation capabilities at UBC. The UBC research team’s history of strong research and development efforts provides an opportunity for Vocan to accelerate its position as a powerful player in the emerging psychedelic medicines space. Psychedelic compounds have recently transitioned into the mainstream medicine market. Psilocybin, MDMA and LSD have shown significant therapeutic benefits when it comes to addressing depression, anxiety, addiction and obsessive-compulsive disorder.The collaboration with UBC will assist Vocan in individually optimizing the expression of enzymes allowing the production of the prodrug psilocybin from the Psilocybe genus of mushrooms. Vocan will supply its developed technology, and the UBC lab will utilize its proven expertise to optimally express critical enzymes to enable their recombinant synthesis in a suitable bacteria host. This will increase the efficiency and cost effectiveness of the process and assist Vocan scientists in enabling the production of psilocybin using fermentation. Using bacteria as “biological factories” in this way is a well-established method for producing commercial products, having been employed for insulin and human growth hormone, but needs to be individually optimized for each product.“The collaboration with UBC Research Faculty enables Vocan to fast track its production method of biosynthesized psilocybin. The state-of-the-art equipment will allow for enhanced analysis of the compound, and the additional personnel exponentially increases the capacity of Vocan’s Research Team,” stated Joel Shacker CEO of the Company.About UBC
The University of British Columbia was established in 1908, is the largest university in Western Canada and has an annual research budget of $600,000,000.00. It is ranked in the top 3 universities in Canada and is 27th in the world for academic ranking. The University has a history of producing esteemed graduates, including 3 Canadian Prime Ministers, including Justin Trudeau, 8 Nobel Laureates, 71 Rhodes scholars, 65 Olympians, and 273 fellows to the Royal Society of Canada. UBC has an academic staff of 5500, over 50,000 Undergraduate students and 10,000 Postgraduate students.About Core One Labs Inc.Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.Core One Labs Inc.Joel ShackerChief Executive OfficerFOR MORE INFORMATION, PLEASE CONTACT: email@example.com 1-866-347-5058
Cautionary Disclaimer Statement: The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.
WASHINGTON, April 24, 2021 /PRNewswire/ -- On the 106th anniversary of the Armenian Genocide, U.S. President Joe Biden officially affirmed that the massacre of the 1.5 million Armenians at the hands of the Ottoman Turkish authorities between 1915 and 1923 was an act of genocide. This affirmation marks a watershed moment in U.S. history, as it reaffirms what has been U.S. policy since the creation of the 1948 UN Genocide Convention, as reflected in the U.S. brief filed with the International Court of Justice, reported the Armenian Assembly of America (Assembly). It is also a categorical rejection of a decades-long, well-funded denial campaign by the Turkish government and a signature moment for human rights. Releasing his statement on April 24, Armenian Remembrance Day, President Biden honored the symbolic date of the start of the Armenian Genocide, when the leadership of the Armenian community in the Ottoman Empire was arrested, imprisoned and eliminated. Thirty countries and 49 U.S. States have acknowledged the Armenian Genocide. Today's U.S. action is expected to create the room for more countries to follow suit and an opportunity for Turkey to come to terms with its past.The recognition of the Executive Branch results in all three branches of the U.S. government officially affirming the Armenian Genocide, following the overwhelming 405 to 11 vote in the House adopting an Armenian Genocide resolution in October 2019, and by its passage in the Senate via unanimous consent in December 2019. President Biden stayed true to his 30-year documented record of Armenian Genocide acknowledgement, from the time he began serving as Delaware's Senator, through his 2020 presidential campaign, when he pledged: "Joe Biden will recognize the Armenian Genocide and make universal human rights a top priority for his administration so that such a tragedy can never again occur." As a Senator, Biden was among the most informed and diligent supporters in using the term Armenian Genocide. His 1989 chairmanship of the Judiciary Committee's passage of such legislation was historic for its result but also as a reflection of his command of the historical facts.U.S. Ambassador to the Ottoman Empire, Henry Morgenthau, alerted in his July 1915 report to the U.S. Department of State and the White House, that "a campaign of race extermination is in progress under a pretext of reprisal against rebellion." Ambassador Morgenthau, who served from 1913-1916, appealed to the U.S. government and humanitarian organizations to stop the genocide and send humanitarian assistance to the survivors and refugees.
Ambassador Morgenthau's cables, along with eyewitness reports of American consuls, missionaries and businessmen, make up part of the over 30,000 pages documenting the Armenian Genocide, as well as their heroic acts of intervention to save lives. Through his efforts, the Near East Relief was formed, and over $2.5 billion in today's dollars was raised at the time to help the survivors of the first genocide of the twentieth century.At the time, former President Theodore Roosevelt stated that the atrocities committed by the "Turks on the Armenians" was "so hideous that it is difficult to name them…people whose little children are murdered and their women raped." In a letter to Cleveland Dodge, who led the congressionally chartered Near East Relief organization headquartered in New York City, President Roosevelt stated further that it "was the greatest crime of the war, and failure to act against Turkey is to condone it…"Ronald Reagan was the first U.S. president who used the word genocide to describe the Armenian atrocities during his Holocaust Remembrance Statement on April 22, 1981: "Like the genocide of the Armenians before it, and the genocide of the Cambodians which followed it – and like too many other such persecutions of too many other peoples – the lessons of the Holocaust must never be forgotten." President Biden had the courage to say what his predecessors for the past 100 years have always known."The Assembly, all Armenians and our friends around the world profoundly thank President Biden for this Armenian Genocide reaffirmation in honor of the victims, survivors, and the principle of universal human rights around the world," said Assembly Co-Chairs Van Krikorian and Anthony Barsamian. "We have been fortunate to have been helped by countless prominent and not so prominent but heroic individuals in advocating for Genocide awareness, education, and prevention. We are sad that they are not all with us today but know they, like all people who are sincerely committed to human rights, are smiling with pride on President Biden and today's historic statement." "President Biden's statement pays important tribute to the victims of the Armenian Genocide and their families," added Assembly President Carolyn Mugar.
In a September 2019 letter from President Biden to the Assembly, he stated: "The United States must reaffirm, once and for all, our record on the Armenian Genocide...We must never forget or remain silent about this horrific and systematic campaign of extermination that resulted in the deaths of 1.5 million Armenian men, woman, and children and the mass deportation of 2 million Armenians from their homes. If we do not fully acknowledge, commemorate, and teach our children about genocide, the words 'never again' lose their meaning. The facts must be as clear and as powerful for future generations as for those whose memories are seared by tragedy. Failing to remember or acknowledge the fact of a genocide only paves the way for future mass atrocities.""President Biden's affirmation of the Armenian Genocide marks a pivotal milestone in the arc of history in defense of human rights," stated Assembly Executive Director Bryan Ardouny. "By standing firmly against a century of denial, President Biden has charted a new course. Affirmation of the Armenian Genocide enhances America's credibility and recommits the United States to the worldwide cause of genocide prevention."Established in 1972, the Armenian Assembly of America is the largest Washington-based nationwide organization promoting public understanding and awareness of Armenian issues. The Assembly is a non-partisan, 501(c)(3) tax-exempt membership organization. View original content:https://www.prnewswire.com/news-releases/president-bidens-armenian-genocide-reaffirmation-shows-america-at-its-best-301276323.htmlSOURCE Armenian Assembly of America