TSX at 2pm: TSX Posts Modest Losses as U.S. Budget Talks Stall


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The Toronto stock market was modestly lower in afternoon trading following reports that talks to avoid a fiscal crisis in the U.S. have hit an impasse.

Market sentiment was mostly negative after Statistics Canada said the economy stalled in September, with no growth in gross domestic product during the month.

The S&P TSX Composite Index was down 20 points to 12,182, retreating from morning highs of 12,246.

Commodity prices were mixed. Oil was higher but gold declined and the TSX's materials sector fell 1%. Tech stocks advanced as Research in Motion (RIM.TO) continued to rally, gaining 2%.

Heavily traded Telus (T.TO) was flat amid reports that hedge fund Mason has been reducing its stake in the telecom company.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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