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Canada Stocks Close Lower; GDP Meets Expectations; Fortis Inc. Most Active

By: MT Newswires
Posted: 1/31/2014 4:02:00 PM
Referenced Stocks:

Canadian stocks closed lower on Friday as volatility continues to generate robust intra-day moves. Most sectors were lower, driven down by Metals and Mining and Info Tech, but Energy stemmed the broader markets losses.

The Canadian economy grew by 0.2% month over month in November, boosted by the resource sector and marking the fifth straight monthly increase, according to Statistics Canada. The increase matched the expectations of economists. The United States also release its second look at Q4 GDP which was also in line with expectations. Business investment and consumer spending increased above expectations while government spending shrank sharply.

Fortis Inc. (FTS-IR.TO) was the most active share on the TSX, with no fresh stock specific news driving volume. The stock closed up 1% with 12 million shares changing hands.