TSE manages small recovery

Microsoft continued to decline, along with telecom company Qualcom and blue chip retailer Coca Cola. The Dow consequently deflated by 128.13 points to close at 11,036.71.

The Nasdaq edged up 19.94 to 4,168.83 as investors who shied away from the internet companies yesterday, renewed their support for hardware and networking companies, such as Oracle and Applied Materials. The S&P added 7.36 to reach 1,487.

The Toronto Stock Exchange was buoyed by a few of its tech stalwarts finished higher today. BCE and Nortel added C$4.55 to $169.65, and $13.15 to $169.65, respectively. JDS Uniphase and Research in Motion climbed as well. After a day of bouncing, the TSE added 84.66 to end up 9226.50.

Toronto Dominion Bank was punished by investors unloading their exposure to internet-brokerage TD Waterhouse, one of the bank’s subsidiaries. It lost C$1.05 to close at $35.10. The CIBC also lost $1.40 to close at $39.85 in heavy trading, while the Royal Bank added 25¢ a share.

Barrick Gold, up 25¢ to C$24.85, also helped push up the TSE 300 index, as investors moved into Canada’s favoured resource-based issues.

The CDNX dropped another 44.55 points, to 3,956.06, at the expense of Ecompark, an internet management company, which lost 9% to C$2.21. On the resource side, the index was capped by gains in Jannock Properties, up 22% to $1.08, and Abitibi Mining, up 18% to 13¢.