Today in the markets
U.S. stocks closed slightly higher Wednesday, as a better-than-expected employment report instilled confidence in spite of Hewlett-Packard’s profit warning.
Canada’s main index drifted lower as signs of a worsening economic slowdown in China and Europe weighed on commodities and resource shares.
The S&P/TSX Composite Index fell 31.76 points to 12,359.47, while the TSX Venture Exchange eased 6.56 points to close at 1,325.22.
Active stocks included Hewlett-Packard Co. (NYSE: HPQ, Stock Forum), which hit a 9-year low, after the CEO warned that 2013 will be “a fix and rebuild year” featuring lower profits. H-P shares fell 13% to $14.91.
In Canada, Enbridge Inc. (TSX: T.ENB, Stock Forum) said it could exceed its goal of 10% growth in earnings per share over the next four years if it moves ahead with a number of development projects. The stock rose 1.1% to $39.39.
Thompson Creek Metals Co. Inc. (TSX: T.TCM, Stock Forum) closed down 0.76% to $2.61 after the company said slumping demand has pushed it to cut about 100 jobs at its namesake molybdenum mine in Idaho.
For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report