Markets & Finance

Canada Follows Wall Street Lower


Canada's benchmark S&P/TSX stocks fell Tuesday after U.S. markets dipped on the latest economic news. The index dropped 6.45 points to 7,660.58. The gold sub-index rose after Placer Dome's $1.1 billion hostile bid for Australia's AurionGold. Shares of Cognos rose on news it settled its patent dispute with Business Objects, agreeing to pay Business Objects a total of $24 million.

Europe markets closed lower. London's FTSE 100 index was off 62.10 points, or 1.21%, to 5074.20 even though European investor optimism has risen. Bonds are higher in a flight to safety from worries about an India-Pakistan confrontation.

In Paris, the CAC-40 was down 21.14 points, or 0.48%, to 4,339.57.

Germany's DAX index was off 42.98 points, or 0.87% to 4,918.58 in carryover from yesterday's rise on stronger than expected Ifo sentiment index.

Asian markets closed mixed. The Nikkei index in Japan was down 40.27 points, or 0.34%, to 11,936.08 as exporter shares rose on the back of stability in the currency markets while domestic-related shares fell on profit-taking.

The Hang Seng index in Hong Kong was up 16.85 points, or 0.15%, to 11,581.58.


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