Wednesday, October 22nd9.4°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




Recent Trending




Today's Market
S&P TSX14312.07-235.64
S&P CDNX808.00-14.28
DJIA16461.32-153.49
Nasdaq4382.847-36.632
S&P 5001927.11-14.17
CDN Dollar0.8889-0.0006
Gold1243.00-2.50
Oil79.94-0.19
Lumber330.40+1.70
Natural Gas3.658-0.001

 
Okanagan Companies
Pacific Safety0.12+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.055-0.025
Anavex Life Sciences0.198+0.006
Metalex Ventures0.05+0.005
Russel Metals32.53-0.56
Copper Mountain Mining2.10-0.07
Colorado Resources0.145-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.405-0.055

 



23028

FEATURED Property
193729211 1865 Begbie Road
3 bedrooms 3 baths
$444,620
more details
image2image2image2
Click here to feature your property
Please wait... loading


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...


Experts share strategies in Kelowna

The third week in October is “Small Business Week”, a week dedicated to supporting local, small businesses. The week was designed to bring awareness to Canadians about the role small busin...

_








Member of BC Press Council


22707