Saturday, October 25th5.8°C
23711
22916

NSE to close for 2nd day

The Toronto stock market was little changed Tuesday in a relatively subdued session due to the closure of New York financial markets for a second day because of Superstorm Sandy.

The S&P/TSX composite index drifted 7.42 points higher to 12,320.17 while the TSX Venture Exchange added 0.54 of a point to 1,291.97.

Craig Fehr, Canadian markets specialist at Edward Jones in St. Louis, said traders around the world were taking a wait-and-see stance due to the closing of the U.S. markets, which normally account for a huge portion of the volume.

"Speculating in these very thin markets probably isn't the smartest move at this point and I think you will get a lot of investors today that will just wait for a bit more liquidity tomorrow," Fehr said.

The NYSE said it intends to resume trading Wednesday, through its Arca electronic trading system if floor trading is not possible.

The superstorm has left a large swath of New York City without power, and subways and vehicle tunnels have been flooded.

Originally, the NYSE had planned to close just its exchange floor and allow traders to buy and sell stock electronically. Then it decided to shut down electronic trading, too. The NYSE said it was worried about putting staff needed to help run the electronic trading in danger.

The Canadian dollar was up 0.16 of a cent to 100.08 cents US after closing below parity with the U.S. currency Monday for the first time since early August.

The Canadian Press


Read more Business News

23028


Recent Trending




Today's Market
S&P TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



23901

FEATURED Property
20713141124 Lynn Court, Kelowna, BC
3 bedrooms 3 baths
$579,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


22771