Canadian Stocks Treading Just Under Water While Traders Wait Out Spanish Bailout News


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Canadian stocks are treading just under water this afternoon on declines among financial, healthcare and mining stocks competing. Losses are capped on rising shares of energy and info tech companies. Trade overall is choppy, with little momentum in either direction as traders wait to see whether Spain accepts a bailout by the European Union.

Here's where the Canadian markets stand today:

- S&P/TSX Composite Index down 9.65 (-0.01%) to 12,360.54.

- S&P/TSX Venture Composite Index down 5.39 (-0.4%) to 1,333.31.

In company news, Potash Inc (POT, POT.TO) is down about 2.5% this afternoon after one of its largest rivals this morning posted disappointing financial results, perhaps scaring some investors and traders in to thinking that Potash might suffer a similar fate.

The Mosaic Company ( MOS ) reported Q1 earnings of $1.01 a share, down from a $1.17 gain during the same three months last year and also missing the analyst consensus estimate of $1.16 a share. Revenue for the quarter came in at $2.51 billion, trailing estimates by about $30 million.

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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