Toronto stocks ended essentially flat Friday, as losses in resources offset gains in the technology sector.
The S&P/TSX composite index finished down 6.67, or 0.06%, to 11,011.83. For the week the key index rose 0.98%.
The TSX finished the quarter up 11.2%, led by a 26% jump in the energy sector as oil hit record highs.
Friday’s volume on the senior exchange was 275 million shares.
Five of the TSX’s 10 main subindexes ended higher.
Light, sweet crude for November delivery settled at US$66.24 a barrel, down 55¢, on the New York Mercantile Exchange.
On the TSX, the energy group slipped 0.2%.
Canadian Natural Resources fell 61¢, or 1.15%, to $52.50, while Petro-Canada dropped 37¢, or 0.75%, to $48.66.
Nelson Resources Ltd. reported that Russian oil firm Lukoil had offered US$2 billion for the Bermuda-based energy firm. Nelson fell 29¢, or 9.80, to $2.67 on the TSX.
The gold sub-group lost 1.72% as gold for December delivery closed $4.40 lower at US$471.40 an ounce.
Bema Gold Corp. shed 15¢, or 4.59%, to $3.12.
The information technology sector gained 0.40%
Research in Motion lost $1.70, or 2.43%, to $68.30 after losing 10% of its value Thursday on earnings news.
However, Nortel Networks Corp. gained 8¢, or 2.14%, to $3.81 on news the company was restructuring.
Rothmans Inc. shares dropped a day after the Supreme Court of Canada cleared the way for provinces to sue the tobacco industry for the health costs of smoking.
Shares of Rothmans dropped as much as 11% earlier in the session before recovering slightly to $21.62, for a drop of $1.38 or 6%.
The Canadian dollar rose 0.63 of a cent to US86.01¢, a 13 1/2-year high against U.S. greenback.
The junior S&P/TSX venture exchange finished up 18.37, or 0.86%, to 2,159.10.
In New York, markets ticked up on lower energy prices.
The Dow Jones industrial average closed up 15.92 points to 10,568.70, the S&P 500 closed up 1.13 points at 1,228.81, and the Nasdaq composite index closed up 10.47 points at 2,151.69.
For the month of September the Dow was up 0.8%, and for the third quarter it rose 2.9%.
The S&P 500 had a gain of 0.7% or the month, and logged a 3.1% gain for the third quarter.
The Nasdaq had a small 0.1% loss for the month but a 4.6% gain for the quarter.
Market close: Gold stocks weigh on TSX
Markets posts sizeable gains in third-quarter
- By: Rudy Mezzetta
- September 30, 2005 September 30, 2005
- 16:10