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Flat noon hour for TSX(Baystreet Stock Market Update (Canada) Via Acquire Media NewsEdge) Gold zooms, techs stumble The Toronto stock market was little changed with energy and mining stocks under pressure, as a strengthening U.S. dollar pushed commodity prices lower. The S&P/TSX composite index gained 19.52 points to greet noon at 14,729.32 The Canadian dollar moved higher 0.28 cents to 88.15 cents U.S. Trading in Toronto is thin, with bond markets closed in observance of Remembrance Day. Energy stocks declined with Imperial Oil giving back 71 cents to $53.41, and Suncor down 16 cents to $39.01. The gold sector was up after falling almost 6% Monday. Bullion prices have fallen steadily amid an end to the U.S. Federal Reserve's massive bond buying stimulus program, a steady flow of positive American economic data and a rising U.S. dollar. Accordingly, Barrick Gold gained 24 cents to $13.14, and Goldcorp climbed 46 cents to $22.15. Among the stock subgroups feeling the bruises were information technology issues, with CGI Group declining 68 cents, or 1.7%, to $39.71, while BlackBerry gained six cents to $12.69. ON BAYSTREET The TSX Venture Exchange nicked up 0.86 points to 766.36. Eight of the 14 Toronto subgroups were higher by noon hour ET, with gold popping 3.6%, materials improving 1.5%, and telecoms up 0.6%. The half-dozen laggards were weighed mostly by information technology issues, off 0.6%, while energy and real-estate trailed 0.5%. ON WALLSTREET U.S. stocks bounced between small gains and losses Tuesday after a small early rise pushed the Dow to an all-time high. The Dow Jones Industrials recovered 4.06 points to 17,617.80 The S&P 500 was unchanged at 2,038.26. The NASDAQ index dropped 0.41 points to 4,651.21. Shares of Alibaba slipped fell 2.2% even after its big online shopping day -- "Singles Day" -- raked in more than $2 billion U.S. in sales in one hour. Juniper Networks Inc. late Monday named Rami Rahim chief executive officer, replacing Shaygan Kheradpir, who resigned with immediate effect. Shares rose 0.2%. D.R. Horton Inc. reported a rise in fiscal fourth-quarter earnings, but missed consensus estimates. Shares were up 0.9% Zynga Inc. shares rose 4.8% after Jefferies lifted shares to buy from hold, citing potential from high growth in mobile games. The U.S.-listed shares of U.K. telecoms giant Vodafone PLC jumped more than 4.7% after the company said it is improving across its key European markets. As noted, bond markets are closed in honour of Veteran's Day. Oil prices dropped 70 cents to $76.70 U.S. a barrel. Gold prices regained $2.70 to $1,162.50 U.S. an ounce. © 1998 - 2014 Baystreet.ca Media Corp. All rights reserved. |