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Canadian stock market closes flat

English.news.cn   2013-01-09 08:06:33            

TORONTO, Jan. 8 (Xinhua) -- The Canadian stock market ended unchanged Tuesday, as investors quietly anticipated the forthcoming release of the fourth-quarter corporate earnings figures at the U.S. stock market.

The S&P/TSX Composite Index added 5.26 points, or 0.04 percent, to 12,504.81, while the S&P/TSX Venture Composite Index gained 1. 49 points, or 0.12 percent, to 1,225.38.

In gold, Barrick Gold Corp. lost 1.28 percent to 33.14 Canadian dollars a share after announcing it ended talks to sell its African subsidiary African Barrick Gold to China National Gold Tuesday, but the two companies couldn't agree on a price. Barrick' s main competitor Goldcorp shares also dropped 3.23 percent to 35. 81 Canadian dollars per share. Gold miner Kinross Gold gained 2.18 percent to 9.39 Canadian dollars a share.

In the energy sector, Suncor Energy fell by 0.27 percent to 33. 14 Canadian dollars apiece. Canadian Natural Resources decreased by 1.48 percent to 29.34 Canadian dollars per share.

Among mining stocks, Teck Resources dropped 2.56 percent to 36. 20 Canadian dollars apiece. First Quantum Minerals shed 0.78 percent to 21.54 Canadian dollars a share.

In corporate development, retailer Sears Canada's fourth- quarter earnings is 97 million U.S. dollars, only about half of that for the same period of the previous year, according to a report released by its U.S. parent company Sears Holdings Corp Tuesday.

Sears Holdings said same-store sales at its Canadian subsidiary, which is crucial at determining retail performance, plummeted by 5. 8 percent during the nine weeks that ended on Dec. 29. The period included the busiest holiday shopping season in the country, where retail sales could make up to 40 percent of their annual profit.

Sears Canada shares tumbled by 3.10 percent to 9.70 Canadian dollars apiece Tuesday.

At closing, the Canadian dollar dropped to 1.0137 U.S. dollar at 5 p.m. local time (2200 GMT), compared with 1.0140 U.S. dollar Monday.

Editor: Hou Qiang
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