Today in the markets
U.S. stocks finished with modest gains Thursday as Wall Street continued to watch efforts to avoid spending cuts and tax hikes set to begin in January.
Canadian stocks ended lower as Toronto Dominion Bank’s latest acquisition and financial results weighed on stocks, offsetting the surge by the Loblaw Cos. Ltd. grocery chain.
The S&P/TSX Composite Index fell 6.16 points to 12,151.13, while the TSX Venture Exchange rose 2.16 points to close at 1,186.70.
Active stocks included Apple Inc. (NASDAQ: AAPL, Stock Forum), which rose 1.6% to $547.24. In an interview scheduled to air Thursday evening, Apple CEO Tim Cook said the company will begin manufacturing one of its Mac line of computers exclusively in the United States next year.
In Canada, shares of Loblaw Cos. Ltd. (TSX: T.L, Stock Forum), Canada’s largest grocery chain, rose 14% to $38.20. The company said it will create a real estate investment trust to hold part of its property assets.
Shares of Toronto-Dominion Bank (TSX: T.TD, Stock Forum) were down 1.7% at $81.12. Stock in the bank fell on worries about higher expenses and loan loss provisions, as well as added caution attached to its bid for Epoch.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report