TSX off triple digits after GDP drop
Oil, dollar, gold all sink
Last Updated: Friday, October 30, 2009 | 4:55 PM ET
CBC News
Related
The volatility on markets continued Friday with the Toronto stock exchange selling off after a report showing the Canadian economy contracted slightly in August.
The S&P/TSX composite index closed down 164.5 points to 10,910.8.
The drop followed a 270-point rise Thursday on news the U.S. economy grew at an annualized rate of 3.5 per cent in the third quarter, fuelled mainly by government spending.
The energy sub-index was off two per cent as December crude on the New York Mercantile Exchange fell $2.87 to close at $77 US.
However, the telecom sector rose 1.3 per cent a day after the federal broadcast regulator ruled Toronto-based Globalive doesn't meet Canadian ownership requirements and denied it a licence to compete with Canada's three existing cellphone networks.
Gold and the Canadian dollar also fell.
The December bullion contract on the Nymex finished off $6.70 to $1039.70 US an ounce. The loonie ended down 1.29 cents to 92.43 cents US.
In New York, the Dow Jones industrial average settled 249.85 points lower to 9,712.73 after running up 200 points on Thursday.
The Nasdaq composite index ended down 52.44 points to 2,045.11 while the S&P 500 index finished 29.92 points to 1,036.19.
Share Tools
Top News Headlines
- Canadian Pacific strikers face back-to-work legislation
- Labour Minister Lisa Raitt is prepared to end the Canadian Pacific Railway strike if necessary, after both CP and the union rejected a proposal for voluntary arbitration by the government-appointed negotiator on Sunday. Raitt says she is "extremely disappointed." more »
- Quebec students and province to resume talks
- Quebec's university student federation has confirmed negotiations between student leaders and the provincial government will resume Monday afternoon. more »
- Tropical storm Beryl strikes southeast U.S. coast
- Tropical storm Beryl has arrived at the southeastern U.S. coast, bringing heavy rain, winds and the possibility of flooding. more »
- Ryder Hesjedal wins prestigious Giro d'Italia
- Victoria native Ryder Hesjedal has become the first Canadian to win one of the cycling world's three Grand Tour events, wrapping up the 2012 Giro d'Italia with an excellent performance in the final stage in Milan. more »
- Tony Blair testifies at U.K. phone hacking inquiry
- Former British prime minister Tony Blair is questioned by an inquiry into media ethics set up to deal with the fallout from the phone hacking scandal at Rupert Murdoch's News Corp. media empire. more »
Latest Business Headlines
- Bankia asks Spain for €19B
- The board of directors of Spain's troubled bank, Bankia, has asked the Spanish government for €19 billion ($24.5 billion Cdn) in financial support. more »
- EI reforms aim to boost employment, Flaherty says
- Finance Minister Jim Flaherty defended his government's proposals to change employment insurance, saying the aim is to remove "disincentives to employment." more »
- Employment Insurance review boards to be scrapped
- The federal government is scrapping two review boards used by people appealing decisions made about their employment insurance. more »
- Ottawa moves to limit foreign investment reviews
- The federal government is raising to $1 billion the amount of foreign money that can go into a Canadian company before the investment is reviewed. The review has been used in the past to block foreign takeovers of MDA and Potash Corp. more »
Lang & O'Leary Exchange
Markets
| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 11576.47 | 0 |
| DOW | 12454.83 | 0 |
| NASDAQ | 2837.53 | 0 |
| SP 500 | 1317.82 | 0 |
| NYSE COMPOSITE | 7534.32 | 0 |
| AMEX | 2227.37 | 0 |
| TSX-VENTURE | 1309.27 | 0 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
Business Features
- Seniors float above Montreal's Quartier Latin
- Remains found in bag on Cape Breton river ID'd
- Accused in blast that killed Alberta mom handled her funds
- Neighbour may have helped find missing kids in Mexico
- Quebec students and province to resume talks
- Lip-dub marriage proposal an internet hit
- Runner dies after collapsing in Cape Breton race
- Canadian Pacific strikers face back-to-work legislation
- Syrian regime denies role in Houla massacre
