Canadian News
Mining Stocks Lead TSX Moderately Lower
11/24/2009 10:02 AM ET
(RTTNews) -
Canadian stocks saw moderate declines Tuesday morning as traders mulled over a disappointing gross domestic product report from the U.S.
The S&P/TSX Composite Index has lost 54.49 points or 0.46% to move at 11,564.73. The market gained yesterday, but backed off its daily highs in the afternoon.
Mining stocks are down 1% as copper has slipped on the Comex. Teck Resources (TCK.B.TO) has lost 2.1%, HudBay (HBM.TO) is down 2% and Inmet (IMN.TO) has lost 1.4%.
Coretec (CYY.TO) has soared 47% after the company announced it has agreed to be acquired by DDi Corp. (DDIC) for approximately C$25.2 million.
The U.S. Commerce Department reported gross domestic product increased by an annual rate of 2.8% in the third quarter compared to the 3.5% growth that had been reported last month. Economists had been expecting the pace of GDP growth to be revised down to about 2.9%.
by RTT Staff Writer
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