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Latest Headlines
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Mar 18, 2010 2:18:00 PM MST
Toronto stock market moves lower on Greek debt worries, lower commodities (Dollar-Markets)
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TORONTO _ The Toronto stock market closed lower as doubts about what European countries will do to help Greece with its debt crisis pushed the U.S. dollar higher and punished commodity prices.
The S&P/TSX composite index ped 60.65 points to 12,040.01.
Greece warned that it will be forced to turn to the International Monetary Fund if the European Union can´t agree to a bailout plan next week that will help reduce its borrowing rates.
The stronger U.S. dollar sent oil down 73 cents to US$82.20 a barrel.
The higher greenback also pushed the Canadian dollar down 0.33 of a cent to 98.65 cents US.
Meanwhile, U.S. data showing tame inflation and falling jobless claims helped send New York markets mainly higher. The Dow Jones industrials rose 45.5 points to 10,779.17, while the Nasdaq composite index moved up 2.19 points to 2,391.28. The S&P 500 was off 0.38 of a point at 1,165.83.
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