Canada Stocks End Mixed after U.S. Rate Cut
Canadian stocks closed mixed after the U.S. Federal Reserve Bank met market expectations in cutting U.S. interest rates by 50 basis points to help rekindle economic growth. The TSE 300 fell 26.46 to 9321.90. The S&P/TSE 60 fell 1.93 to 554.84. Breadth was 787-502 positive. Gains in utility and mining-related sectors offset drops in financial services, oil and gas, industrial products and consumer products sectors. Government of Canada bonds finished higher. The March Canadian dollar settled higher at 66.78 cents vs. the U.S. dollar. March crude oil settled down $0.40 at $28.66. February gold settled up $0.50 at $265.60.
European markets ended mixed. London's Financial Times-Stock Exchange 100 index ended down 37.00, or 0.58%, at 6,297.50. In Germany, the DAX Index was up 55.84, or 0.83%, to 6,795.14. Meanwhile, France's CAC 40 ended up 81.34, or 1.37%, at 5,998.49.
Asian markets finished up. Japan's Nikkei ended up 16.90, or 0.12%, at 13,843.55. Hong Kong's Hang Seng Index finished with a gain of 209.28, or 1.32%, at 16,102.35.