Wednesday, August 27th19.4°C
23003

Disappointing global outlook hits TSX

The Toronto stock market was lower as a weak outlook from resource giant Alcoa Inc. added to a pessimistic global economic assessment from the International Monetary Fund.

The S&P/TSX composite index fell 25.14 points to 12,248.43 while the Canadian dollar was off 0.01 of a cent at 102.18 cents US.

New York indexes were negative after Alcoa predicted aluminum demand would grow six per cent this year, down from seven per cent in the previous quarter, primarily because of slower growth in China.

The Dow Jones industrials declined 15.51 points to 13,458.02. The Nasdaq was 0.93 of a point lower at 3,064.09 and the S&P 500 index was down 0.55 of a point at 1,440.93.

North American markets racked up sharp losses Tuesday after the International Monetary Fund reduced its growth forecast for the world economy to 3.3 per.

Oil slipped 31 cents to US$92.08 a barrel.

The Canadian Press


Read more Business News

23015


Recent Trending




Today's Market
S&P TSX15619.21+20.47
S&P CDNX1015.367.12
DJIA17106.7029.83
Nasdaq4570.637+13.289
S&P 5002000.02+2.10
CDN Dollar0.9177+0.0048
Gold1281.10+3.7999
Oil94.11+0.25
Lumber349.50+0.30
Natural Gas3.959+0.048

 
Okanagan Companies
Pacific Safety0.180.00
Knighthawk0.01-0.005
QHR Technologies Inc1.190.00
Cantex0.07+0.005
Anavex Life Sciences0.25-0.007
Metalex Ventures0.075-0.005
Russel Metals36.62-0.32
Copper Mountain Mining3.03+0.02
Colorado Resources0.175+0.005
ReliaBrand Inc0.115+0.02
Sunrise Resources Ltd0.0250.00
Mission Ready Services0.250.00

 



22870

FEATURED Property
20524583619 Veranda Court
3 bedrooms 3 baths
$2,050
more details
image2image2image2
Click here to feature your property
Please wait... loading


How much mortgage should you carry?

There are several things to consider when deciding how much home to buy. 1. Draw up a budget including the new mortgage payments. While the rules used by most lenders require that the mortgage paym...


What is a journey without a destination?

Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...

_








Member of BC Press Council


22847