Today in the markets
U.S. stocks were down Monday amid ongoing uncertainty over whether the United States can avoid the so-called fiscal cliff.
Canada’s main index was weighed down as commodity producers proved to be the main laggards. Government agencies were closed for Remembrance Day.
The S&P/TSE Composite Index fell 5.34 points to 12,191.46, while the TSX Venture Exchange gained 4.54 points to close at 1,305.46.
Active stocks included JC Penney Co. Inc. (NYSE: JCP, Stock Forum), which fell to a new 52-week low after being downgraded by Credit Suisse. The retailer, which reported disappointing results last week, continues to struggle with overhauling its image. JC Penney was the worst performer on the S&P 500 Monday. The stock closed down 13% at $17.97.
In Canada, the Brick Ltd. (TSX: T.BRK, Stock Forum) jumped 51.7% to close the day at $5.31 after agreeing to a $700 million takeover offer from retailer Leon’s Furniture Ltd. (TSX: T.LNF, Stock Forum) Leon’s rose 1.7% to $11.77.
Research in Motion Ltd. (TSX: T.RIM, Stock Forum) shares edged 3% higher to $8.81 after the company announced it will launch its BlackBerry 10 on January 30.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report