Eagle River, WI 10/13/2011 (PennyPayDay) – Canadian stocks moved lower at the opening bell on Bay Street Thursday, as investors booked profits after strong recent gains.The S&P/TSX Composite Index was down 145.68 points, or 1.2 percent, to 11,884.28. The decline pared most of yesterday's gains. On Wednesday, the TSX closed above 12,000 for the first time in about four weeks.
Mining stocks gave back 3.7 percent, while energy shares slipped 1.5 percent. U.S. crude prices
Investors will be paying attention to today's conference call from Research in Motion. RIM is under fire for service interruptions in North America, Europe and Asia this week. The stock was down another 3 percent in early dealing.
A private equity firm is considering a takeover offer for Mosaid Technologies Inc. to rival to a C$480-million hostile bid by Wi-Lan. Mosaid shares were flat.
Canada's trade deficit widened slightly in August, as rising imports outpaced a modest increase in exports, official data showed Thursday.
Statistics Canada said merchandise imports grew 0.7 percent and exports increased 0.5 percent in August. As a result, Canada's trade deficit with the world went from C$539 million in July to C$622 million in August.
PennyPayDay Disclaimer
No comments:
Post a Comment