By Sarah Pringle, MarketWatch
SAN FRANCISCO (MarketWatch) ? A slump Thursday by technology stocks pushed Canadian equities 31 points lower to 11,466.5 points, snapping a two-day winning streak by Toronto?s S&P/TSX Composite Index /quotes/zigman/20942 CA:$ISPTX -0.27% .
The move broke ranks with gains seen in the U.S. on the Dow Jones Industrial Average /quotes/zigman/627449 DJIA +1.24% , which added 155.38 points, and S&P 500, /quotes/zigman/3870025 SPX +1.08% , which rose 14.22 points. U.S. stocks gained momentum as global central banks reported they may take action.
Canada?s information technology sector /quotes/zigman/23269 XX:TTTK -1.71% led decliners, down 1.7%, followed by the consumer staples sector /quotes/zigman/24971 XX:TTCS -1.20% which were off 1.2%.
Research in Motion /quotes/zigman/18555 CA:RIM -3.55% shares, down 3.6% at the close, were among the biggest decliners in the group.
RIM announced Thursday the nomination of financier Timothy Dattels to its board, replacing former Telefonica SA executive Antonio Viana-Baptista. Dattels is a senior partner at TPG Capital L.P. in San Francisco and former partner at Goldman Sachs Group Inc.
The appointment did little to satisfy shareholders looking for a more dramatic revamping of the struggling Blackberry-maker?s board. Rim shares are off about 70% over the past 12 months.
Also making a notable move were Class B shares of Transat /quotes/zigman/33171 CA:TRZ.B -8.26% , down 8.3% after the travel agent and tour operator reported second-quarter losses and financial results that fell short of analyst estimates.
Farmers turn to data harvests
U.S. farmers are getting help from a new kind of farmhand: iPads and other gadgets that help them plant seeds in ways that maximize harvests.
After slipping earlier in the day, metals mining stocks /quotes/zigman/24977 XX:TTMN +0.81% ? returned to positive territory, nudging the benchmark 0.8% higher by session?s close. Some gold stocks nevertheless were down, despite making headway previously this week. Among those hit hardest were NovaGold Resources /quotes/zigman/8093 CA:NG -2.55% , falling 2.2%, and Franco-Nevada Corp. /quotes/zigman/40545 CA:FNV -2.14% , down 1.5%. On the upside, shares of Kinross Gold Corp. /quotes/zigman/31886 CA:K +5.56% ?gained 5.6% on the day.
Gold for August delivery /quotes/zigman/676896 GCQ2 +0.19% rose 20 cents to 1,619.60 an ounce on the Comex division of the New York Stock Exchange, marking the fifth-straight session gain. Read more on gold.
Offsetting Thursday losses was the strength in energy supported by the rise in oil prices, said Fergal Smith, managing market strategist for ActionEconomics. Crude-oil futures for July continued to strengthen, rising 1.6%, to end at $83.91 a barrel, after the Organization of Petroleum Exporting Countries, at a meeting in Vienna, left its collective production ceiling unchanged. Read more on oil.
Canada?s currency /quotes/zigman/4867882/sampled USDCAD +0.0568% , rose 0.54% against its U.S. counterpart, with one U.S. dollar purchasing C$1.0228, down from C$1.0285 Wednesday.
The turns the loonie has made can be partially explained by speculation for further stimulus by the Fed, said Smith. While the U.S. dollar is lower more broadly, ?in contrast the Canadian dollar has been relatively more robust,? said Smith.
/quotes/zigman/20942
CA : Canada: Toronto
Volume: 196.19M
June 14, 2012 5:00p
/quotes/zigman/627449 US : DJ-Index
Volume: 128.64M
June 14, 2012 4:30p
/quotes/zigman/3870025 US : S&P Base CME
Volume: 608.02M
June 14, 2012 4:35p
/quotes/zigman/23269 XX : Canada: Toronto
Volume: 3.83M
June 14, 2012 5:00p
/quotes/zigman/24971 XX : Canada: Toronto
Volume: 3.65M
June 14, 2012 5:00p
/quotes/zigman/18555 CA : Canada: Toronto
Volume: 1.65M
June 14, 2012 5:40p
/quotes/zigman/33171 CA : Canada: Toronto
Volume: 132,614
June 14, 2012 5:40p
Market Cap$165.63 million
Rev. per Employee$565,478
/quotes/zigman/24977 XX : Canada: Toronto
Volume: 11.82M
June 14, 2012 5:00p
/quotes/zigman/8093 CA : Canada: Toronto
Volume: 436,744
June 14, 2012 5:40p
/quotes/zigman/40545 CA : Canada: Toronto
Volume: 456,418
June 14, 2012 5:40p
/quotes/zigman/31886 CA : Canada: Toronto
Volume: 5.48M
June 14, 2012 5:40p
/quotes/zigman/676896 US : U.S.: Comex
Volume: 584.00
June 14, 2012 7:07p
/quotes/zigman/4867882/sampled US : ICAP Currencies
Volume: 0.0000
June 14, 2012 7:17p
Sarah Pringle is a MarketWatch reporter, based in San Francisco.
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