Weak data on retail sales and an increased likelihood of a further cut in interest rates led to a pessimistic day at the Toronto Stock Exchange. There was some last minute positive news from the other side of the Atlantic though as European finance ministers agreed a deal to extend Greece’s loan arrangement for four months to allow the country more time to reach a longer term plan. Greece had asked for six months but that request was blocked by Germany leading to fears that no deal would be agreed this week.
The S&P/TSX Composite Index closed down 8.09 (0.05 per cent)
The NYSE closed higher
Oil is trending slightly lower (Brent $60.05, WTI $50.75 at 4.10pm)
Gold is trending lower
The loonie is valued at U$0.79752 (at 4.10pm)