Canada's main stock market the bigger TSX is lower today, with
all sectors in the S&P/TSX Composite Index down in afternoon
trade. Technology stocks are taking the hardest hit on the TSX
today as disappointing results from Microsoft (
) and Google (
) over the past 24 hours are weighing on sector stocks worldwide.
But the smaller TSX Venture Exchange has twice recovered from big
sell offs to recover - earlier by quite a bit, and currently by
enough to take it just back in to positive territory.
In economic news, consumer prices rose 1.2% during the 12 months
to September, matching the increase in August. Higher energy
prices, particularly for gasoline and electricity, led the advance
in the September Consumer Price Index (
). The rise was tempered, however, by lower year-over-year price
increases for the purchase of passenger vehicles and for food
purchased from stores.
Here's where the Canadian markets stand:
- S&P/TSX Composite Index down 57.03 (-0.5%) to
- S&P/TSX Venture Composite Index up 0.35 (+0.03%) to
In commpany news, shares of BCE Inc. (BCE, BCE.TO) are down
about 2% on the TSX with the Canadian government saying it cannot
overturn a decision by the country's broadcast regulator rejecting
BCE Inc.'s $3.4 billion bid to buy Astral Media Inc. (ACM-A.TO),
which is down 15%.
Sebastien Gariepy, a spokesman for Canada's heritage minister,
said the federal cabinet has no authority over decisions by the
independent Canadian Radio-television and Telecommunications
Commission. The regulator blocked the deal yesterday, saying it
would have resulted in an unprecedented level of consolidation in
Canada's media industry.