CANADA STOCKS-TSX tracks steady with U.S. election in focus

Tue Nov 6, 2012 12:03pm EST

* TSX up 15.48 points, or 0.13 percent, at 12,368.46
    * Financial, healthcare, energy sectors fall; materials rise
    * Catamaran shares drop nearly 4 percent

    By John Tilak
    TORONTO, Nov 6 (Reuters) - Canada's main stock index was
little changed at midday on Tuesday with weaker financial and
healthcare stocks offsetting rising material shares as investors
guardedly awaited the outcome of the U.S. presidential election.
    Capping a long and bitter campaign, Americans began casting
their votes to decide whether to give Democratic President
Barack Obama a second term or replace him with Republican
challenger Mitt Romney. 
    Whoever is elected will have to deal with the fiscal cliff
that faces the U.S. government, said John Ing, president of
Maison Placements Canada. "I think either gentleman faces very
difficult problems and needs to show leadership. Right now the
Street is pretty cautious."
    "This is going to be a nothing day," Ing added. "The
consensus is whether it is Romney or Obama, both would be
negative for the market," 
    The Toronto Stock Exchange's S&P/TSX composite index
 was up 15.48 points, or 0.13 percent, at 12,368.46.
    The index's financial subgroup was lower, with Royal Bank of
Canada, the country's largest bank, down 0.42 percent at
C$57.11.
    The energy subgroup, one of the largest in the index, was
also down, slipping 0.02 percent.
    Pharmacy benefit manager Catamaran Corp was down
3.98 percent at C$47.55. Shares of Catamaran's U.S. competitor,
Express Scripts Holding Co, tumbled about 15 percent
after its CEO said Wall Street's outlook for its 2013 results in
may be too aggressive. 
    The index's materials sector, which includes mining stocks,
rose 0.27 percent. Diversified miner Teck Resources 
was up 1.58 percent at C$33.40. Goldcorp Inc rose 0.67
percent to C$43.55 and fellow gold miner Yamana Gold Inc
 was up 1.57 percent C$19.36.
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.