Business
TSX inches down
TSX inches down
About this update from Celestica Inc.
[{"type":"text","content":"\nTSX inches down\n\nMetals up, discretionaries down\n Feb. 26, 2010 (Baystreet.ca) -- Toronto's main index continued to oscillate within a thin range in the afternoon session, with the sentiment remaining sluggish in the absence of cues from Wall Street.\n\nThe S&P/TSX composite index listed downward 1.81 points to close the week and month 11,629.63. \n\nIndices of energy, gold and financial sectors were relatively flat.\n\nSoon before the close, Niko Resources Ltd. had risen 0.42% to an even $100.00 and Petrobakken Energy Ltd. added 1.2% at $28.10. \n\nCanadian Western Bank gained 1.1% to $20.79 while Bank of Nova Scotia was down 0.5% to $47.75 and TMX Group Inc. eased 0.2% to $28.95.\n\nThe Information Technology Index was down, as Open Text Corp. added 0.6% to $51.11, Celestica Inc. lost 1.3% to $10.77 and CGI Group Inc. eased 2.4% to $14.85.\n\nIn economic news, Statistics Canada reported the nation's fourth-quarter current account deficit narrowed to $9.8 billion from the revised $13.8 billion for the previous quarter.\n\nThe Canadian dollar gained 0.72 cents to 95.05 cents U.S. \n\nON BAYSTREET \n\nThe 14 TSX subgroups were evenly split between gainers and losers. Metals and mining issues were again the leaders among the prospering groups, adding 1%, followed by real-estate stocks, up 0.7%, and telecoms, ahead 0.5%. \n\nThe seven laggards were weighed mostly by consumer discretionary stocks, down 0.6%, industrials and information technology, each off 0.5%. \n\nThe TSX Venture Exchange picked up 13.25 points to 1,531.19, while the Nasdaq Canada index regained 8.71 points to 753.86.\n\nON WALLSTREET\n\nIn New York, stocks struggled to rise Friday as investors were cautious after a surprise drop in existing home sales, a surprise rise in GDP growth and AIG's worse-than-expected quarterly decline.\n\nThe Dow Jones industrial average ended the week at 10,329.19, up 4.23 points on the day. The S&P 500 index picked up 1.55 points to 1,104.49, and the Nasdaq composite added 4.04 points to 2,238.26.\n\nStocks seesawed through the morning as investors considered the economic news at the end of a tough week on Wall Street. \n\nEquities were set to end the week lower following a steady stream of worse-than-expected economic reports. Readings on housing, jobless claims, durable goods orders and consumer confidence have all disappointe...