Canadian Indexes Slide on Potash Earnings Warning
Canadian stocks closed mixed with major indexes moderately lower as concerns about second-half recovery, triggered by Cisco's weak results yesterday, created a bearish tone in the marketplace. The TSE 300 fell 56.93 points to 9080.70, hurt by industrial products shares after Potash Corp. issued a negative forecast, Shares of utilities, financial services also fell. The consumer products sector provided support on QLT Inc's positive product news. Breadth was 744-536 positive. Government of Canada bonds closed lower despite the midday pop on an otherwise good Treasury auction. The March Canadian dollar ended a bit higher vs. the U.S. dollar.
European markets were trading mixed. The London Financial Times-Stock Exchange 100 index finished down 19.50 points, or 0.31%, at 6,206.10. In Germany, the DAX Index ended up 57.85 points, or 0.88%, at 6,636.81 as German industrial production rose 0.7% in December. Meanwhile, France's CAC 40 ended up 21.32 points, or 0.37%, at 5,773.46.
In Asia, the markets finished lower. Japan's Nikkei 225 Index closed down 227.78 points, or 1.70%, at 13,138.23. Hong Kong's Hang Seng index, meanwhile, ended down 140.07 points, or 0.87%, at 15,909.40.