TSX Closes Down 73 Pts; Heavyweights RIM and Bombardier In The Spotlight

By MidnightTrader.com Staff,

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After six days of successive gains, Canada's main stock market, the Toronto Stock Exchange, has now gone two straight days with losses. It looked promising when the index went slightly higher early on, but it soon turned negative and it largely was a question of, by how much would it fall rather than would it fall over the remainder of the session.

Investors are traders appear to be wary of Greece. Although its international lenders agreed on a package of measures to reduce its debt by 40 billion euros, there is still some concern that this amount won't be enough.

Research In Motion Ltd. (RIM.TO) undid much of the good work done in recent weeks in falling the most in almost three weeks today on news the BlackBerry's U.S. market share shrank to 1.6%, hurt by sales of Apple Inc.'s ( AAPL ) iPhone. While the shares rallied more than 50% in November through yesterday, they are still down 17% this year, Bloomberg reported.

Bombardier Inc (BBD-B.TO) helped cap losses in gaining 8% on news it has signed its largest business jet deal ever, a $7.8 billion order from Swiss charter operator VistaJet for up to 142 Global aircraft.

Crude oil futures settled lower Tuesday, as a warning from a group of industrialized nations about the potential for a global recession fed demand concerns, MarketWatch reported. January crude oil fell 56 cents to settle at US$87.18 a barrel on the New York Mercantile Exchange. Prices lost 54 cents on Monday. But natural-gas futures managed to recoup some of its 4.4% loss in the previous session.

Gold futures fell Tuesday, extending their losses to a second-straight session, as some upbeat U.S. economic data, as well as a debt deal in Greece helped dull the precious metal's safe-haven appeal, MarketWatch reported. A stronger U.S. dollar also weighed on the metal. Gold for December delivery fell US$7.30 to settle at $1,742.30 an ounce on the Comex division of the New York Mercantile Exchange.

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
Referenced Stocks: AAPL

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