Today in the markets
U.S. stocks finished in negative terrain Tuesday as a partial shutdown of U.S. government entered its second week after lawmakers failed to agree on funding.
Canadian stocks were down despite news of higher housing starts in September and an expanding trade deficit.
The S&P/TSX Composite was down 95.84 points to 12,692.41, while the TSX Venture Exchange eased 8.16 points to close at 939.36.
In Canada, Saputo (TSX: T.SAP, Stock Forum) was up 4.1% to $51.50 after the dairy and cheese giant said it has entered into a C$378-million deal to buy Warrnambool Cheese and Butter Factory Company Holdings Ltd. in Australia.
The Montreal-based company said late Monday that it is offering approximately AUD$7 (C$6.81) in cash per share for all outstanding shares in Warrnambool, one of the largest milk processors in Australia.
Shares of Manitoba Telecom Services Inc. (TSX:T.MBT, Stock Forum) tumbled 8.5% to $29.62 after Ottawa rejected the sale of its Allstream business to an Egyptian investment group.
OceanaGold Corp. (TSX: T.OGC, Stock Forum) announced Tuesday that has an agreement to buy Pacific Rim Mining Corp. (TSX: T.PMU, Stock Forum) in an all-share deal that values Pacific Rim at about $12.7 million.
OceanaGold was down 7.3% to $1.40. Pacific Rim jumped 43% to 5 cents.
For news about small stocks that made big moves in Tuesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report