Canadian Stocks Giving Up Most of Gains Made Over Last Two Full Sessions; Miners Lose, Tech Stocks Gain

By Midnight Trader December 13, 2012, 12:51:05 PM EDT

After fighting to gain more than a total of 100 points over the last two full sessions, Canadian stocks have given up most of those advances today, with the S&P/TSX Composite Index slipping close to 80 points early afternoon amid concerns about the slow pace of U.S. budget talks.

Most industry sectors are in the red, although it is note worthy that the Metals & Mining sector, while still the biggest loser in percentage terms, is now down around 1% having been down 2.6% earlier. Technology stocks are ahead 1.5% as a group - the biggest winner in percentage terms - led by a big gain for shares of Research in Motion (RIM.TO, RIMM).

In economic news, Canada's national net worth increased by over $9 billion to $6.8 trillion Q3, translating to $194,100 on a per capita basis. In addition to higher prices for many assets, national saving and revaluations contributed to increased national wealth, according to StatisticsCanada.

In company news, Research in Motion is up more than 4% today on the TSX - and around 80% in about a month - after the U.S. Immigration and Customs Enforcement agreed to test its new BlackBerry 10 devices, becoming one of the first government agencies to try the company's new Blackerry 10 operating system ahead of its commercial debut late next month.




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

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