Markets are following a familiar pattern today, opening higher on corporate news, and then sinking as word of the latest developments in the anthrax story are revealed.

At midday, the TSE 300 is down 41 points to 6,916.

Volume is on the light side at 67 million shares, with sellers ahead of buyers almost two to one. Losers hold a five to three edge over winners.

On a sector basis, there are widespread losses today. Only transports and pipelines are up. Most of the declines are modest, although golds are down by more than 2.5%.

Energy stocks are off 1.5%, and utilities are weak, too. Everything else is down just a little.

Energy stocks remain heavy traders, led by Westcoast Energy. It is unchanged with 3.1 million shares crossing the tape. Canadian Hunter is up a tiny bit on heavy volume, as is PanCanadian Energy. There are slides in Methanex and Ensign Resource Services.

Techs are also big traders today, with Celestica powering higher, followed by gains in BCE Emergis and JDS Uniphase. Sierra Wireless is down notably.

There are also losses in firms such as BCE, Biovail, Bombardier, Air Canada, Co-Steel, Hydrogenics, CGI and Placer Dome.

The financials are down a bit after weak earnings were reported by U.S. firms. Royal Bank is higher today, while CIBC is down. Among the fund companies, Dundee Bancorp is off 3.6%.

There are gains in names such as CP Rail, Dofasco, Rogers Communications, Vincor and Linamar.

On the news front, Domtar Inc is reporting net earnings of $22 million or 12¢ per common share for the third quarter of 2001, compared with $60 million or 33¢ per share for the corresponding period of 2000.

TransAlta has reported earnings from continuing operations of $33.4 million for the quarter ended September 30, up from $22.1 million last year. Higher earnings came from the Alberta generation plants, independent power projects, due to the Poplar Creek and Pierce power plants, asset dispositions, and energy trading activities.

In New York, early gains gave way following the news of more anthrax exposures in the U.S. The resulting fear is helping subdue trading.

At midday the Dow Jones industrial average is down 48 points to 9,185. The Nasdaq composite index is clinging to a four point gain at 1,650. The S&P 500 is down seven points to 1,070.

The CDNX is alone in holding up today, gaining four points to 2,886. Volume is light there too at 12 million shares.

Mines and oils are doing the lifting, with a drag from tech stocks. Imagis Technologies Inc is the top trader up 9.4% to $2.79 on volume of 1,126,871 shares.