TSE benefits slightly from rise in Nortel

At midday the TSE 300 is up
about 12 points. Nortel is up
$3.10, spurring a $1.35 rise in
BCE Inc. too. Apart from the
popular network equipment-maker,
the market looks rather gloomy.

Volume has been very thin
today – just 36 million shares
changing hands. The volume is
about 10:7 in favour of sellers.
The declining issues are ahead of
the advancers about 19:13, while
the market has seen 42 new lows
and five new highs.

Rogers is up today too,
as are a few tech stocks, including
JDS Uniphase and Celestica.

The downside is looking stronger
though, led by ATI Technologies.
Golds are down, led by Placer
and Barrick, and joined by
other miners too. Paper stocks are
down, as are financials, led by
TD Bank.

In the rest of the country, the
Nortel effect isn’t quite as strong
and markets are down. The ME is
down six points, while Alberta is
off more than six, and the VSE is
down just a couple of points.

In New York, the selling has
been stronger on heightened
inflation fears. The Dow is off
125 points at midday, joined by
Nasdaq, which is down 17 points,
and the S&P, which is down 13
points.