Aug 27, 2013 / 6:43 am
The Toronto stock market was lower at the open, joining other global markets in pulling back amid worries about the possible ramifications of western countries intervening in Syria's civil war.
The S&P/TSX composite index was 31.4 points lower at 12,728.9 as traders also took in a strong earnings reports from Bank of Montreal (TSX:BMO) and Scotiabank (TSX:BNS).
The Canadian dollar declined 0.2 of a cent to 95.03 cents US as traders sought the perceived save haven of the U.S. currency.
U.S. indexes were sharply lower a day after U.S. Secretary of State John Kerry claimed it was "undeniable" that the Syrian government used chemical weapons. The prospect of U.S.-led military action against the Assad regime was enough for investors to cut their exposure to risky assets such as stocks and the Dow Jones industrials fell 108.97 points to 14,837.49.
The Nasdaq was down 36.77 points to 3,620.8 while the S&P 500 index dropped 14.95 points to 1,641.83.
Oil ran ahead $2.95 to US$108.87 a barrel as traders assessed the potential for international intervention in Syria.
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|QHR Technologies Inc||1.19||-0.01|
|Anavex Life Sciences||0.36||-0.01|
|Copper Mountain Mining||1.58||+0.02|
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