Markets are sliding today, in absence of a reason for traders to do much. A high U.S. jobless report from last week weakened opening sentiment and things haven’t moved very far off that view today.

At midday, the TSE 300 is down 47 points to 6608.

Volume is light today at 80.3 million shares, with the Yom Kippur holiday keeping some traders on the sidelines. The selling volume is outweighing the buying by five to two Losers outnumber winners 11 to six.

Energy stocks are really the only strength today, after a large M&A deal was announced in the United States. There’s also spot strength in sectors such as auto parts and brewers. Miners are up a bit and transports have recovered a little, too.

The weakness is rather broad based, but it is centered in techs, where profit worries are strongest. Paper stocks, pipelines, media stocks and financials are all notably weak too.

The pain isn’t over for Bombardier today. It is down another 4.3% today in very heavy trading. Air Canada is bouncing back though, up almost 7%.

Financials are weakening at the hand of blue chips such as Royal Bank and Manulife. AGF is giving back its recent run up, too. It’s down 7%.

Techs are weak, led by Nortel Networks and Descartes Systems. There are also slides in BCE, Weston, Transalta, Richland Petroleum, Sears, Co-Steel and Dofasco.

Energy stocks are getting a boost in Anderson Exploration, along with Husky Energy, Suncor, CP, AEC and Canadian Hunter. Other gainers include Inco, Barrick, Ballard Power, Leons, Metro and Intrawest.

Geac Computer is up almost 3% on news that it has completed the sale of 6 million common shares at $4.50 per common share to a syndicate of underwriters led by CIBC World Markets Inc., and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc. and Yorkton Securities Inc. The bought deal transaction raised gross proceeds of $27.0 million.

In other news, National Bank says it will redeem, for the purpose of cancellation, all of its non-cumulative preferred shares Series 10 on November 16 for $25 per share, together with 54.6875¢ representing declared and unpaid dividends per share to the redemption date. A total of 3.68 million preferred shares series 10 is currently outstanding and makes the total value of the transaction $94 million.

In New York, stocks are sliding as buyers continue to play their cards close to their chest amid the economic and political uncertainty. Yom Kippur is also hampering action in New York

At midday, the Dow Jones industrial average is down 85 points to 8,482. The Nasdaq composite index has dropped 39 points to 1,425. The S&P 500 is off nine points to 998.

The CDNX is little changed today, off two points to 2768. Volume is weak at 9.7 million shares.

Techs are weakest, followed by slight declines in miners and oils. Bishop Resources Inc is the top trader, gaining 17% to 27¢ on 454,900 shares.