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Canada Shares Fall on Negative Earnings News


Canada's benchmark TSE 300 fell 34.60 points, or 0.44%, to 7,747.60. Investors digesed a raft of negative news while shrugging off good economic news. IBM said its first quarter earnings will miss analysts' estimates by a considerable margin, sending a ripple wave effect on all stocks operating in the same ecosystem as Big Blue. Hostilities in the Middle East continued to weigh on stocks. The stronger than expected Canadian Ivey Purchasing Manager's Index was largely ignored.

European markets finished down. In London, the Financial Times-Stock Exchange 100 index shed 55 points, or 1.05%, to 5,178.60. Brent crude oil prices, meanwhile, were higher. In France, the CAC 40 was off 83.82 points, or 1.86%, to 4,431.88. In Germany, the DAX Index was lower by 74.96 points, or 1.47%, to 5,185.57.

Asia markets ended mixed. The Nikkei managed to add 17.40 points, or 0.15%, to 11,6352.89, as new investment capital at the beginning of the new fiscal year flowed into market heavyweight telecom and bank shares. In Hong Kong, the market lost 107.69 points, or 0.99%, to 10723.68.


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