Canada Shares Sink on Profit Warnings
Canadian stocks closed broadly and sharply lower as a recent series of profit warnings, and uncertainty over interest rates and the economic outlook kept investors near the sidelines. The TSE 300 fell 205.21 to 7930.30; all 14 subindexes lost ground except Gold & Precious Minerals. The S&P/TSE 60 fell 12.16 to 462.54. Breadth was 728-513 negative. Government of Canada bonds rose as debt securities benefited from global weakness in equities. The June Canadian dollar settled lower at 64.51 cents vs. the U.S. dollar. April crude settled $0.01 lower at $28.00. April gold settled $0.80 higher at $272.30.
European markets closed lower after a sharp fall in the Japanese stock market overnight and weakness in U.S. technology issues. The London Financial Times-Stock Exchange 100 index ended off 90.80, or 1.53%, to 5,826.50. In Germany, the DAX Index was down 157.86, or 2.54%, to 6,046.56. Meanwhile, France's CAC 40 Index finished down 126.49, or 2.36%, to 5,242.40.
In Asia, the markets ended sharply lower. Japan's Nikkei 225 Index closed down 456.53, or 3.62%, to 12,171.37. Hong Kong's Hang Seng index, meanwhile, finished down 417.63, or 2.94%, to 13,776.72.