Today in the markets
U.S. stocks moved lower Wednesday as Wall Street got back to business amid speculation that Hurricane Sandy may cause up to $15 billion in insured losses.
Canada’s main index was positive as the mining and metals sector rose along with higher commodity prices, offsetting a down day in the energy sector.
The S&P/TSX Composite Index rose 45.86 points to 12,422.91, while the TSX Venture Exchange advanced 11.56 points to close at 1,314.48.
Active stocks included Netflix Inc. (NASDAQ: NFLX, Stock Forum), which gained 14% to $79.23 on reports that billionaire investor Carl Icahn has acquired a 10% stake in the video-streaming and DVD-rental company
Groupon Inc. (NASDAQ: GRPN, Stock Forum) shares closed down 8% to $4.12 after triggering Nasdaq’s short-sale circuit breaker earlier in the session. The daily deal website is taking some heat on Twitter for sending out alerts to New Yorkers, many of whom are stranded without transportation and electricity.
In Canada, Teck Resources Inc. (TSX: T.TCK.A, Stock Forum) (TSX: T.TCK.B, Stock Forum) (NYSE: TCK, Stock Forum) rose 1.6% to $31.70, buoyed by a spike in the price of copper. Sherritt International Corp. (TSX: T.S, Stock Forum), shares fell 3.6% to $4.32 as the miner swung to a $22.6 million loss in the third quarter on $42.8 million of net charges.
The gold sector was also up, pushing Iamgold Corp. (TSX: T.IMG, Stock Forum) ahead 2.4% to $15.50.
For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report