Today in the markets
U.S. stocks were mixed Thursday as the Dow Jones continued to retreat from Tuesday’s close above 14,000. NASDAQ and the S&P closed higher after trading in a tight range.
Canadian stocks closed down as energy and mining stocks backed off amid data that showed worsening economic conditions in Europe.
The S&P/TSX Composite was off 53.49 points to 12,721.79, while the TSX Venture Exchange eased down 7.72 points to close at 1,196.56.
Active stocks included Warren Buffett's Berkshire Hathaway and 3G Capital agreed to buy H.J. Heinz Co. (NYSE: HNZ, Stock Forum) for $28 billion U.S. Shares of the ketchup-maker spiked 20% to $72.50. Shares of fellow food company Campbell Soup (NYSE: CPB, Stock Forum) jumped 1.4% to $38.72.
In Canada, Cenovus Energy Inc. (TSX: T.CVE, Stock Forum) posted a net loss of $118 million or 16 cents per share, a big turnaround from the year-earlier profit of $266 million or 35 cents per share.
The company's chief executive said last month that the low price that Alberta producers can get for their oil, relative to other types of crude, including West Texas Intermediate, is causing a major problem for the industry and Canada. Cenovus shares declined 82 cents to $31.78.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report