Canadian housing starts declined slightly in September to 234,600 from 237,200 in August, according to the Canada Mortgage and Housing Corp.

Despite the decline CMHC says, “Consumer confidence remains high and consumers continue to look positively toward the future. This combined with low mortgage rates continues to support healthy levels of activity in the housing market. “

Nationally, urban single starts were 100,500 units at seasonally adjusted annual rates in September, unchanged from the previous month. Though, Canada-wide, year-to-date actual urban single starts were down 3.3% compared to the same period in 2002.

The Canadian dollar continues to climb. It has edged up 0.06 of a cent to US75.16¢ after topping US75¢ on Tuesday for the first time in almost seven years. The loonie is benefiting from a declining U.S. dollar. The Canadian dollar’s surge is increasing talk of a move by the Bank of Canada to offset the economic effects. Renewed strength in the loonie will keep downward pressure on inflation, and reinforce slower GDP growth. The central bank’s next decision on interest rates is due Oct. 15.

In Asia, Tokyo suffered heavy losses due to currency fluctuations. The yen rose further against the dollar, increasing pressure on carmakers, electronics companies and other Japanese exporters. The Nikkei average fell 278.13 points or 2.6% to 10,542.20. , Hong Kong’s Hang Seng index closed off 3.12 points at 11,720.80.

In Europe, markets climbed due to a deal between General Electric and Vivendi Universal to merge the French company’s U.S. entertainment with NBC. The new company, NBC Universal has an estimated value of US$43 billion.

In London, the FTSE 100 index is up 0.7% at midday. Frankfurt’s DAX is up 1.4%. Paris’s CAC40 has advanced 0.7%.

Here in Canada, the business scene is dominated by the news of the the death of Izzy Asper, 71-year-old founder of the country’s biggest media empire, CanWest Global Communications. Control of CanWest Global falls to his children. Ownership and succession issues could cause concern among investors.

On the Canadian stock market yesterday, the S&P/TSX composite index slid 1.66 points to 7,561.21.

In New York, the Dow Jones industrial average gained 59.63 points to 9,654.61. The Nasdaq composite index climbed 14.39 at 1,907.85. The S&P 500 index was up 4.90 at 1,039.25.