CLOSING BELL: TSX, Dow Jones head in opposite directions
Canada’s main stock market and the Dow Jones were on opposite paths today.
On Bay Street things were higher as industrial and tech stocks helped propel the TSX. It closed at 16,328, up 63 points.
Meanwhile a significant drop off in mortgage loans weighed the loonie down. Tougher lending rules that came into effect on January 1st have led to about a $2 billion decrease in mortgages.In afterhours trading the loonie is down fourth-fifths of a cent to 76.37 cents U.S.
Across the pond the euro took a big tumble after the European Central Bank vowed not to raise euro zone interest rates before the middle of next year. On Wall Street the Dow Jones was higher this morning but gave back those gains as the day went on, closing at 25,175, a loss of 25 points. At press time oil is up 31 cents to $66.95 U.S. per barrel, while gold is up $5.10 to $1306.40 an ounce.