Today in the markets
U.S. stocks closed lower Friday after the Financial Times reported that a group is working on an economic reform package that would set the stage for purchases of Spain’s debt.
Canada’s main index was also down as financial and industrial stocks offset the impact of rising gold miners.
The S&P/TSX Composite Index fell 25.65 points to 12,383.60, while the TSX Venture Exchange was up 10.83 points to close at 1,345.72.
Active stocks included Apple Inc., (NASDAQ: AAPL, Stock Forum) which rose 0.20% to $700.09, buoyed by the launch of its iPhone 5 in retail stores around the world amid big expectations from investors despite changes to the device’s software.
In Canada, Nexen Inc.’s (TSX: T.NXY, Stock Forum) planned $15.1 billion takeover by CNOOC Ltd. (NYSE: CEO, Stock Forum) through CNOOC Canada Holding Ltd. received Alberta court approval. However, a number of regulatory approvals remain.
MacDonald Dettwiler & Assoc. Ltd. (TSX: T.MDA, Stock Forum) said the U.S. Committee on Foreign Investment has cleared the purchase of Loral Space and Communications Inc.’s satellite manufacturing unit after determining that there are no unresolved security concerns. MDA shares rose 1.80% to $52.53.
For news about small stocks that made big moves in Friday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.