Canada Stocks Close Lower; Fed Tapers Bond Program; Air Canada Most Active
Canadian stocks closed lower on Wednesday, reversing Tuesday's gains. Most sectors were lower led down by Info Tech and Financials but Industrials bucked the trend.
All eyes were on the Federal Reserve today as the central bank culminated its 2-day monetary policy meeting. The FOMC decided to continue to taper its bond purchase program lopping off 10 billion dollars from its purchases which will begin in February. February's total will now be 65 billion dollars.
Air Canada (AC-B.TO) was the most active share on the TSX. There was no fresh stock specific news driving volume. The company did announced that fQ4 and full year 2013 results will be released pre-market on February 12, 2014.The stock closed down 6% with 16 million shares changing hands.