TSX at 2pm: TSX Lower on Concerns Talks to Address U.S. Budget Deficit Will Fail

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The Toronto stock market was weaker in afternoon trading, its third straight day of declines, as investors worried about talks aimed at heading off a fiscal crisis in the United States.

The S&P/TSX Composite Index was down 29 points at 12,082, but recovered from earlier triple digit losses after U.S. House Speaker John Boehner voiced optimism that a deal could be reached to avoid the fiscal cliff.

Lower commodity prices were a drag on the index; the TSX's materials and energy sectors both lost 0.6%, utilities were off 1.1%.

Heavily traded Research in Motion (RIM.TO) gained 3% despite news of a patent dispute with Nokia.



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This article appears in: Investing , Commodities

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