Canada Stocks End Day Lower, But In Better Position Than At Open; Market Awaiting RIM Results

By Staff,

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Canada's main stock market, the Toronto Stock Exchange, ended the day in a better position than where it started. Having opened 27 points lower than the previous close, it ended Thursday's session down 15 points on lower gold prices and concern about the pace of U.S. budget talks. But such a scenario didn't look likely to happen even early afternoon. Between the open and close the index spent some time either side of midday 70 points lower, below 12,340.

Investors and traders may hope this augurs well for Research In Motion (RIM.TO) which is due to release its latest results around 4.30pm ET. RIM gained more than 3% today. Market watchers will focus on more than the headline profit and sales figures. They especially await an update on the roll out of the firm's Blackberry 10 device.

Gold for February delivery fell US$21.80 to $1,645.90 an ounce on the Comex division of the New York Mercantile Exchange. February gold traded as low as $1,636. Gold came off session lows as U.S. House Speaker John Boehner urged the Senate to support a bill that would extend tax cuts for most Americans. March silver fell $1.44, or 4.6%, to $29.68 an ounce. Silver hasn't settled below $30 an ounce since late August.

Crude oil for February delivery rose 15 cents to US$90.13 a barrel on the New York Mercantile Exchange, the highest settlement since Oct. 18. Futures, which have gained 3.9% this week, are down 8.8% this year. Brent oil for February settlement rose 5 cents to $110.41 a barrel on the London-based ICE Futures Europe exchange.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
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