Stock markets in Europe caused a ripple effect across the Atlantic on Wednesday after concern grew over Greece’s debt. The country’s finance minister said on Tuesday that he expects that it will reach a settlement with creditors over its debt arrangements but that it may not happen at the meeting of EU finance ministers this Friday. European markets closed mixed. The Toronto Stock Exchange felt the heat as bank stocks declined, which are heavily-weighted on the main index. In New York focus was on earnings as some major players announced results; and China announced that it was opening up domestic card payments to foreign firms which gave a boost to Visa and MasterCard stocks.
The S&P/TSX Composite Index closed down 41.67 (0.27 per cent)
The NYSE closed higher
Oil is trending lower (Brent $62.87, WTI $56.27 at 4.25pm)
Gold is trending lower
The loonie is valued at U$0.81770 (at 4.25pm)