Thursday, October 8th16.5°C

TSX digs lower on mining stocks

The Toronto stock market was slightly lower at the open as potential damage from the looming U.S. fiscal cliff continued to cast a shadow over trading while investors also took in a strong earnings report from tech bellwether Cisco Systems.

The S&P/TSX composite index declined 10.6 points to 12,124.06, led by declines in the mining sector, while the Canadian dollar gained 0.08 of a cent to 99.89 cents US.

Also, home improvement chain Rona Inc. (TSX:RON) was in focus. A fund manager that owns about one-tenth of the company, Invesco Canada, is calling for shareholders to remove the company's board and install new directors.

U.S. indexes were higher as Cisco Systems Inc. shares surged almost eight per cent after the world's largest maker of computer networking gear said that its earnings rose 18 per cent in the latest quarter to US$2.1 billion or 39 cents a share.

The Dow Jones industrials gained 15.67 points to 12,771.85, the Nasdaq rose 15.44 points to 2,899.33 and the S&P 500 was up 2.84 at 1,377.37.

Oil rose six cents to US$85.44 a barrel.

The Canadian Press

Read more Business News


Recent Trending

Today's Market
S&P TSX13962.37+94.02
S&P CDNX546.23+3.78
S&P 5002013.43+17.60
CDN Dollar0.7684+0.0033
Natural Gas2.495+0.021

Okanagan Companies
Pacific Safety0.225+0.000
QHR Technologies Inc1.23-0.02
Metalex Ventures0.05+0.00
Russel Metals21.52-1.60
Copper Mountain Mining0.62-0.01
Colorado Resources0.07-0.01
ReliaBrand Inc0.0169+0.0138
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.08-0.01
Decisive Dividend Corp3.11-0.10
Diamcor Mining0.94+0.06



24437757655 Falcon Ridge Crescent
5 bedrooms 4 baths
more details
Click here to feature your property
Please wait... loading

Income for life?

Photo: Thinkstock.comIn almost every conversation I have with clients these days, the topic swings to interest rates. What direction they’re going, how long will they stay where they are and how...

Perfect (reno'd) home

Photo: Thinkstock.comHow many times have you found a home in the perfect location, but it needs too much work as per the home inspection? There is a great program available through most lenders that w...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...



Member of BC Press Council