Toronto Stock Market Lower as Direction of Global Economy Questioned

By Friend, David | The Canadian Press, September 18, 2012 | Go to article overview

Toronto Stock Market Lower as Direction of Global Economy Questioned


Friend, David, The Canadian Press


TSX weakens as global economy in focus

--

TORONTO - The Toronto stock market ended lower on Tuesday as a renewed sense of caution swept over traders concerned about the global economy.

The S&P/TSX composite index dropped 24.15 points to 12,422.71, following a slate of new reasons to be cautious, including signs of slower economic growth. The TSX Venture Exchange was up 5.48 points to 1,322.64.

The Canadian dollar was up 0.08 to 102.61 cents US.

The TSX information technology sector led gainers, up 1.21 per cent, with Research In Motion Ltd. (TSX:RIM) shares gaining 17 cents to $7.24.

RIM signed a patent licensing agreement Tuesday with Microsoft Corp. to use the software company's latest file system technology on its smartphones, making the handling of large files easier.

Metals and mining stocks were the biggest decliners, off 1.2 per cent, as Teck Resources (TSX:TCK.B) shares fell 52 cents to $31.26.

"I think it's a little bit of a pause after what's been a very strong run in equity markets," said Gary Aitken, chief investment officer at Bissett Investment Management.

"You saw that last week with a lot more willingness for investors to be taking risk. We've had a big run -- markets don't go straight up -- so I think some sort of pause is inevitable."

Commodity prices were lower with October crude ending the session off $1.33 to US$95.29 a barrel.

December copper was down less than a cent at US$3.79 a pound while December bullion rose 60 cents to US$1,771.20 an ounce.

On Wall Street, the Dow Jones industrials rose 11.54 points to 13,564.64, the Nasdaq composite index backed off 0.87 of a point to 3,177.80, while the S&P 500 index slid 1.87 points to 1,459.32.

Top of mind are concerns about the global economy, and a delay in Spain's acceptance of a financial aid package. The country's markets have improved in recent weeks on expectations that the government will get some form of rescue loan from the 16 other eurozone countries. But, Madrid has not made any formal request yet, likely wary of the conditions that would come attached.

The delay pushed the country's bond yields sharply higher on Monday, suggesting an increase in investor concern about the government's finances. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Toronto Stock Market Lower as Direction of Global Economy Questioned
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.