Markets sagged on both sides of the 49th parallel today. In Toronto stocks lost ground on Thursday, weighed down by sagging technology issues. The Toronto Stock Exchange’s S&P/TSX composite index closed down 29.71 points, or 0.38%, at 7,767.62, its lowest close in November.

Trading was moderate with 299 million shares worth $2.7 billion changing hands. Eight of the 10 TSX sub-indexes fell, with techs dropping 2.17%. Telecoms equipment maker Nortel Networks Corp. lost 27¢, or 4.7%, to close at $5.46 while BCE Emergis lost 19¢ or 3.19% to close at $5.76.

Disappointing quarterly earnings from U.S. retail giant Wal-Mart Stores tempered enthusiasm for Canadian consumer issues. The consumer sector lost 0.52%. Clothing maker, Gildan Activewear, fell 95¢, or 2.6%, to close at $35.35. Sears Canada dropped 53¢, or 2.5%, to close at $20.47.

The markets were also hurt by a mixed bag of economic reports. In the U.S., first-time claims for unemployment insurance rose by 13,000 to 366,000 last week, after falling 38,000 a week earlier. Prices paid for items imported to On the plus side, Canada’s trade surplus grew to $5.65 billion in September..

In the U.S., the three market gauges closed just short of their 2003 closing highs. U.S. stocks paused after a cautious sales forecast from Wal-Mart Stores Inc. tempered investors’ hopes for a robust holiday shopping season. Wal-Mart’s chief executive officer, Lee Scott, says holiday spending should be better in 2003 than last year’s dismal performance. But he says consumers are still buying cheap items – an indication that family budgets are tight.

The Dow Jones industrial average fell 10.89 points, or 0.11%, to 9,837.94. The Standard & Poor’s 500 Index slipped 0.12 of a point, or 0.01%, to 1,058.41. The Nasdaq Composite Index fell 5.76 points, or 0.29%, to 1,967.35.