From left: Ingrid Makus, Neil McCartney, Joffre Mercier, Jens Coorssen, Mike PlyleyBrock had an international visitor this month in the form of a delegate from the University of Western Sydney (UWS).Jens Coorssen, chair of Molecular Physiology and head of UWS’s Molecular Medicine Research Group, visited Brock last week. Coorssen met with Brock administrators to explore new potential for Brock and UWS to co-operate.Brock and the UWS signed an Agreement of Co-operation earlier this year, pledging to encourage research exchange and mobility for the purpose of internships, collaborative project work and other academic activities. Besides the connections between Biological Sciences and other science-based programs, the universities could complement each other in areas such as nursing and midwifery, Child and Youth Studies, Geography and tourism.Coorssen, who earned a BSc (’86) and MSc (’89) from Brock, met with Joffre Mercier (Associate Dean, Mathematics and Science), Ingrid Makus (Associate Dean, Social Sciences), Neil McCartney (Dean, Applied Health Sciences) and Mike Plyley (Dean, Graduate Studies).Coorssen, who has been collaborating with Mercier, also gave a presentation on Sept. 16 as part of the Alumni Weekend Learners and Leaders seminar series.
TORONTO – The Toronto stock market dropped by triple digits and the loonie contracted sharply against the greenback after a pullback in commodity prices and a disappointing read on the economy from the Bank of Canada.The Toronto Stock Exchange’s S&P/TSX index ended the day down 137.73 points at 13,704.19, with the health-care subsector posting the biggest loss on the day, down 6.41 per cent.Valeant Pharmaceuticals stock plunged 19.2 per cent to $154.21 on Wednesday after short-seller research firm Citron Research compared the Canadian pharmaceutical company to the collapsed energy giant Enron and accused it of creating a network of phantom pharmacies to fool auditors.The drug company denied the allegations.Valeant shares have fallen from a peak of $347.84 in August, with American political figures including Hillary Clinton turning their focus in the last month to price increases in the pharmaceutical industry.Kash Pashootan, portfolio manager at First Avenue Advisory in Ottawa, a Raymond James company, said investors can do all the research in the world but they can never really predict a company’s fortunes.“What you’re seeing is another reminder of why diversification is so important in any investing,” he said.In New York, the Dow Jones average of 30 stocks closed down 48.50 points at 17,168.61, while the broader S&P 500 index fell 11.83 points to 2,018.94 and the Nasdaq index dropped 40.85 points to 4,840.12.Pashootan said that ever since the American economy began to recover in 2010, North American equity markets have shown strong results.Now, he said, the market is changing as investors become more aware that those returns are unlikely to last.“After five years of phenomenal gains in the markets, especially the U.S. markets, it’s unrealistic to expect that for the next five years growth will come at the same magnitude,” he said.On the commodity markets, the December gold contract ended trading down $10.40 to US$1,167.10 an ounce, the December crude contract fell US$1.09 to US$45.20 a barrel and the November natural gas contract fell 7.2 cents to US$2.404 per thousand cubic feet.Pashootan said the oil market is still suffering from worldwide oversupply and that he foresees a rough time for oil company stocks as they continue to adjust to the lower oil price.Many oil companies have been protected by the long-term hedges they invest in as insurance against an oil price decline and many of those hedges are beginning to expire, he said.“Then they will really feel the impact of selling oil into a market at half the price of what they were used to selling it at,” Pashootan said.The loonie fell by 0.91 of a cent to 76.24 cents US.The Bank of Canada announced on Wednesday that it would keep its key overnight interest rate at 0.5 per cent.The bank said in its economic forecast that it will take several years for the Canadian economy to adjust to the impact of persistently low commodity prices. by Peter Henderson, The Canadian Press Posted Oct 21, 2015 7:52 am MDT Last Updated Oct 21, 2015 at 3:40 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email TSX down triple digits as loonie falls after downbeat Bank of Canada report