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.
Read more Business News
- Smith Creek: fully containedWest Kelowna - 11:07 am
- Alerts rescinded in RDOSPenticton / S. Okanagan - 10:00 am
- Wind knocks tree onto homeKelowna
- Hwy. 1 & 97A reopenBC - 1:17 am
|QHR Technologies Inc||1.16||+0.01|
|Anavex Life Sciences||0.29||-0.035|
|Copper Mountain Mining||2.82||+0.06|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...