Canada Stocks Lose Momentum On Lower Commodity Prices; Uranium One and RIM Again Heavily Traded

By Midnight Trader,  December 13, 2012, 04:15:32 PM EDT

Canada's main stock market, the Toronto Stock Exchange, lost momentum that saw it gain around 120 points over Tuesday and Wednesday, today losing more than 60 points as lower commodity prices took the shine off resources stocks.

Comments from Speaker of the U.S. House of Representatives John Boehner didn't help. He said the White House seems willing to "slow-walk our economy right up to the 'fiscal cliff'" and this weighed on sentiment across the market.

The sectors were almost evenly split between losers and gainers. Biggest losers were the Metals & Mining and Health care sectors. Biggest gainer was the Info Tech sector, with Research In Motion Ltd (RIM.TO) starring.

For the third consecutive day RIM was among the biggest gainers and/or influences on the direction the market took, rising close to another 4% with more than 11 million shares traded. And Uranium One (UUU.TO) was to the fore too for the third day straight. It was the most active stock today with nearly 30 million shares traded.

Crude oil futures settled lower Thursday, giving back nearly all of the previous session's Federal Reserve-induced gains as debt woes in the U.S. and U.K. took the spotlight, MarketWatch reported. January crude oil fell 1% to settle at $85.89.

Gold futures settled below $1,700 an ounce Thursday, and silver prices sank more than 4% in the wake of the Federal Reserve's bond-buying program announcement Wednesday, MarketWatch reported. February gold shed $21.10 to settle at $1,696.80 an ounce.




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


This article appears in: Investing, Commodities

Referenced Stocks:



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