Canada Stocks Close Lower; Stocks Pause After Fed Rally; Sectors Mixed; Healthcare and Utilities Bucked the Trend
Canadian stocks closed lower on Thursday losing 4 points the day after the Federal Reserve decided to hold off on tapering their bond purchase program. Sectors were mixed with losses in Metals and Mining (0.52%) offsetting gains in Healthcare +1.48% and Utilities +1.43%.
The CAD/USD lost ground as stronger than expected US Existing Home Sales, capped the Loonie's upside. Earlier in today's trading session The National Association of Realtors reported that existing home sales increased 1.7% to an annual rate of 5.48 million units last month, the highest level since February 2007.
Sulliden Gold Corporation Ltd. (SUE.TO) was the most active share. The company announced today that it had entered into an agreement with National Bank Financial Inc. and Scotia Capital as co-lead underwriters, on behalf of a syndicate of underwriters, for the issuance of 39,300,000 common shares, on a bought deal basis, for gross proceeds of $40,086,000. The stock settled down 8% with 6.7 million shares changing hands.