Markets in Toronto opened lower on Wednesday, after Greece's lenders failed to agree on emergency aid, and concern over the U.S. fiscal crisis also shook up investors.
The S&P/TSX Composite Index was off 10.17 points in Wednesday’s first trading hour to 12,036.11
The Canadian dollar slid 0.03 to 100.28 cents U.S.
Trade is likely to be muted ahead of the U.S. Thanksgiving holiday.
Research In Motion Ltd. appears to be righting itself. The BlackBerry maker got a boost when one of its most influential critics raised his rating on the stock ahead of the launch of RIM's make-or-break new line of BlackBerry 10 devices. RIM stock eked up three cents a share to $9.73
Zambia has granted environmental approval to First Quantum Minerals for a planned 300,000 tonnes per year $640-million copper smelter at its Kansanshi mine license area, the environmental management agency said. First Quantum shares stumbled out of the blocks 31 cents to $21.51
Lululemon Athletica Inc. settled a lawsuit over its distinctive yoga pants against PVH Corp's Calvin Klein and G-III Apparel Group Ltd. Lululemon stock slid 25 cents to $71.24
Pipeline operator TransCanada Corp. will pay $210 million for BP Plc's 40% stake in the Crossfield Gas Storage facility, 50 kilometers north of Calgary, Alberta, to consolidate ownership of the operation. TransCanada shares gave back a nickel to $45.34
No major Canadian economic data was scheduled for release Wednesday.
ON BAYSTREET
The TSX Venture Exchange pointed higher 2.63 points to 1,244.93
In all, nine of the 14 Toronto subgroups were lower to begin the day, weighed mostly by metals and mining, down 0.9%, while global base metals and materials sank 0.5% each.
The five gainers were led north by telecoms, up 0.4%, while financials and industrials each gained 0.2%.
ON WALLSTREET
Stocks traded mixed at the start of Wednesday’s session as the U.S. government's strong report on jobless claims offset new worries over Greece.
The Dow Jones Industrials went up 19.83 points to 12,808.30
The S&P 500 moved 1.19 points higher to 1,389, and the Nasdaq Composite Index picked up 0.05 points to 2,916.74
But trading volume is expected to be light ahead of the Thanksgiving holiday on Thursday.
European finance ministers failed to finalize the details of a debt-reduction package for Greece before the close of their meeting Wednesday.
The inability of finance ministers to reach a deal over Greece has reignited worries about European sovereign debt, but European stocks also held up Wednesday.
In corporate news, Deere dipped 3% after the equipment maker released quarterly results. Shares of jewelry maker Zale dropped nearly 30% after the company reported a steep quarterly loss. Publisher Scholastic's stock dropped after it lowered its forecasts for next year.
U.S. stocks ended flat Tuesday, amid a sharp selloff in Hewlett-Packard shares after the company reported a massive loss. HP's shares were flat Wednesday.
Economically speaking, new U.S. jobless claims totaled 410,000 last week, impacted by storm conditions in the Northeast, but better than the 423,000 analysts had predicted.
Later on, the University of Michigan will release the final version of its consumer sentiment index for November.
The price on the benchmark 10-year U.S. Treasury fell a bit, lifting yields to 1.69% from Tuesday’s 1.66%. Treasury prices and yields move in opposite directions.
Oil prices prospered 67 cents to $87.42 U.S. a barrel.
Gold prices sprang back up $1.10 an ounce to $1,724.60 U.S.
