Cisco Miss Whips Canada Stocks

Europe tech shares weaken; Japan's NTT makes solid gains

Canadian stocks closed mixed, with major indexes markedly lower as Cisco's earnings miss and its forecast for sequentially lower revenues sent shock waves throughout world equity markets. The TSE 300 fell 163.80 points to 9137.60 points as industrial products shares fell along with consumer products; financial services; and utilities, metals and minerals, offsetting rises in oil and gas shares and the gold and precious minerals sectors. Breadth was 642-604 positive. Government of Canada bonds rose, supported by losses in stocks; soft help-wanted data was supportive of the government's short end. The March Canadian dollar was lower at 66.17 cents against the U.S. dollar.

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