The Toronto Stock Exchange started higher this morning and was then put under pressure when the President of the European Central Bank gave the latest update from its monetary policy committee meeting.
The Toronto Stock Exchange started higher this morning and was then put under pressure when the President of the European Central Bank gave the latest update from its monetary policy committee meeting. The ECB is planning new stimulus measures for the frail Eurozone economy and Mario Draghi hinted that more money could be made available through bond buying although he said that Germany, the bloc’s largest economy, is sceptical about the measures. The ECB announcement pushed the euro lower, strengthened the US dollar, weakened commodities and pushed the TSX down. Among the positive news for the day Canadian Tire and Air Canada were among those posting better earnings. The TSX closed up 5.14 points (0.04 per cent) while the NYSE closed higher on all the main indexes; the S&P 500 was up 7.64 points (0.38 per cent).
