Canada Closes Slightly Higher

Europe markets close lower; chip-industry concerns pull down Asia markets

The TSE 300 traded in a "yo-yo" fashion Tuesday, leaving the session on a positive note, up 29 points to 7819. Financials which had a rough start, managed to rally in late dealings. The Bank of Canada's 25-basis-point rate cut was seen as a supportive factor. Nine of the fourteen sectors that made up the TSE 300 moved to the plus column at the end of the day. The oil and gas sector was the best performer. The gold and precious minerals sector was the worst performer. Market breadth was 142-127 positive. Government of Canada bonds ended the session on a mixed note. The front end underperformed the back end of the yield curve.

European markets closed lower. In London, the Financial Times-Stock Exchange 100 index ended down 5.50 points, or 0.10%, to 5761.10. In Germany, the DAX Index finished lower by 90.41 points, or 1.51%, to 5911.89. In France, the CAC 40 closed down 31.73 points, or 0.59%, to 5340.98.

In Asia, the markets ended down. The Nikkei lost 187.80 points, or 1.42%, to 13,067.09. In Hong Kong, the Hang Seng ended down 383.02 points, or 2.95%, to 12,606.45.

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