Despite Late Boost from U.S., Canada Losing Streak Continues
Canada's benchmark TSE 300 index closed down 27.2 points Wednesday to end at 7657.7. The late afternoon rally in the U.S. indices helped to offset, at least partially, the continued slide in Nortel and the weakness in both oil and gold. Eight of the 14 subindices closed down, lead by Oil & Gas, Industrials and Gold & Precious Metals. The other six subindices were lead higher by the Financials. The TSE 300 has closed in negative territory 11 of the last 12 trading days.
European markets ended mixed. In London, the Financial Times-Stock Exchange 100 index added 19.20 points, or 0.34%, to 5,699.60. In Germany, the DAX Index lost 46.49 points, or 0.78%, to 5,876.04. In France, the CAC 40 shed 28.92 points, or 0.56%, to 5,170.49.
Asia markets finished mixed. In Japan, the Nikkei gained 100.38 points, or 0.80%, to 12,674.64, following an afternoon rally. In Hong Kong, the benchmark Hang Seng index dropped 214.95 points, or 1.64%, to 12,918.71