Canadian Stocks Close Down 32 Points On Concerns About Pace of U.S. Fiscal Talks; Gran Colombia Gold Most Active

By Midnight Trader,  December 04, 2012, 04:04:12 PM EDT

Canada's main stock market, the Toronto Stock Exchange, opened 60 points down on the previous close and despite two attempts to get back up to at least level pegging - once in the morning, the other in the afternoon - it ended the day down 32 points, largely on concerns that U.S. politicians won't be able to resolve the country's looming fiscal crisis.

While many gold and oil stocks fell on lower commodity prices and various production, budget and outlook statements, the most actively traded stock Gran Colombia Gold (GCM.TO) actually made small gains. Equedia.com and The Equedia Weekly Letter, which provide research on stocks with a focus on mining and resources, said it is continuing research and evaluation on the prospects of Gran Colombia Gold Corp. and Mandalay Resources Corporation (MND.TO).

Canadian Natural Resources (CNQ.TO) was next most traded, losing nearly 3% after announcing details of its 2013 budget.

Oil prices fell below US$89 a barrel on Tuesday, logging their first loss in four sessions, with demand concerns festering as wrangling continues in Washington over a deal to avert automatic tax increases and spending cuts next year, MarketWatch reported. Meanwhile, gold futures sank below US$1,700 an ounce Tuesday, with analysts mainly blaming the selloff on technical trading, MarketWatch reported.




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:



Latest News Video

McConnell: Administration Has 'Culture of Intimidation'
McConnell: Administration Has 'Cult...
Police, Islamists Clash in Tunisia
Police, Islamists Clash in Tunisia  


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%