Today in the markets
U.S. stocks closed on higher ground Tuesday as investor interest in Apple Inc. (NASDAQ: AAPL, Stock Forum) and last week’s stimulus measures kept the market from pulling back too sharply.
Canada’s main index closed lower as the falling oil price weighed heavily on the energy sector and investors sold metals and mining stocks.
The S&P/TSX Composite Index fell 24.15 points to 12,422.71, while the TSX Venture Exchange was up 5.48 points to close at 1,322.64.
Active stocks included FedEx Corp. (NYSE: FDX, Stock Forum), which eased 3% to $86.55, after lowering its profit forecasts for the second quarter. In Canada, Penn West Petroleum Ltd. (TSX: T.PWT, Stock Forum) (NYSE: PWE, Stock Forum) slipped 4.4% to $15.25. The shares were downgraded to “underperform” from “neutral” at Macquarie Research by equity analyst Cristina Lopez. The 12-month target is $14. Pacific Rubiales Energy Corp. (TSX: T.PRE, Stock Forum) rallied 1.6% to $24.82 after the oil and gas company disputed reports that various permit applications in Colombia had been delayed or denied.
For news about small stocks that made big moves in Tuesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.