Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Inside the Market

Up-to-the-minute insights
on developing market news

Entry archive:

At the open: Dow, TSX decline Add to ...

North American stocks fell at the start of trading on Tuesday, extending some nervousness over uncertainty about the latest twist in the European sovereign-debt crisis.

The Dow Jones industrial average fell 23 points or 0.2 per cent, to 12,822. The broader S&P 50 fell 4 points or 0.3 per cent, to 1,341. In Canada, the S&P/TSX composite index fell 49 points or 0.4 per cent, to 12,511.

In Greece, leaders have missed yet another deadline for agreeing on austerity measures demanded by the euro zone in return for bailout funds, feeding anxiety over whether the country can avoid a messy default.

Commodity producers were among the biggest drags, as the price of crude oil fell to $96.19 (U.S.) a barrel, down 72 cents. Gold fell to $1,715 an ounce, down $9.90. Among Canadian energy stocks, Suncor Energy Inc. fell 0.8 per cent and Canadian Natural Resources Ltd. fell 1 per cent. Barrick Gold Corp. fell 0.3 per cent.

U.S. technology stocks also dipped into the red: Cisco Systems fell 0.9 per cent and Intel Corp. fell 0.6 per cent.

However, Yum! Brands rose 3.1 per cent after the fast food company reported a 30 per cent gain in its quarterly earnings. Coca-Cola Co. rose 0.3 per cent after its adjusted earnings, which don't take one time items into account, rose to 79 cents a share, beating the 77 cents estimated by analysts.

For Globe Unlimited Subscribers

Business videos »

Most popular videos »


Most Popular Stories