Canadian stocks are most lower today, with big declines among
shares of gold mining companies dragging the commodities-heavy
market lower for a second day. Financial and energy stocks also are
sharply lower following disappointing jobs data out of the U.S. and
new signs the euro-zone economy is falling into another recession.
Information technology companies are lone industry sector in the
S&P/TSX Composite Index to post a gain, rising 0.3% as a
In economic news, manufacturing sales advanced 0.4% to $49.8
billion in September, according to StatisticCanada. The gain
reflected higher production in the aerospace product and parts
industry as well as rising sales of primary metals. Excluding the
aerospace industry, total manufacturing sales decreased 0.7% -
largely due to declines in the motor-vehicle assembly.
Sales rose in 8 of 21 industries, representing just under half
of Canadian manufacturing. Sales of durable goods increased 1.1% to
$25.8 billion, while non-durable goods sales decreased 0.4% to
Here's where the Canadian markets stand today:
- S&P/TSX Composite Index down 112.18 (-1%) to
- S&P/TSX Venture Composite Index 32.49 lower (-2.5%) to
In company news, Canadian Solar (
) shares are down 16% and have hit new year lows after the company
posted a Q3 loss of $1.01 per share, ex items, more than double the
$0.47 loss analysts were expecting. Revenues of $326 million also
trailed estimates by nearly $25 million.
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