December 17, 2008 / 9:49 PM / 10 years ago

CORRECTED - CANADA STOCKS-Interlisted issues mixed in U.S. as TSX shut

(Corrects currency of EnCana NYSE share price in paragraph 2 and TD Bank NYSE shares in paragraph 7 to U.S. dollars) (In U.S. dollars unless noted)

TORONTO, Dec 17 (Reuters) - With the Toronto Stock Exchange closed on Wednesday because of technical problems, shares of some interlisted Canadian companies saw mixed action south of the border.

EnCana Corp (ECA.N), Canada’s No. 1 oil and gas producer, closed lower by 3.03 percent at $46.36, as oil fell $3.54 to settle at $40.06 a barrel, after dipping below $40 for the first time since July 2004.

The Organization of the Petroleum Exporting Countries agreed to cut 2.2 million barrels a day of output starting on Jan. 1, the biggest single reduction on record.

But oil prices dropped as dealers said the OPEC cuts did not go far enough to offset slumping world demand and prop up retreating prices [ID:nSP305685].

Nexen Inc NXY.N fell 3.7 percent to $17.93. Earlier, it said it would acquire a majority interest in its Long Lake oil sands project, buying an additional stake from troubled joint-venture partner Opti Canada Inc OPC.TO for C$735 million. [ID:nBNG405486]

Barrick Gold Corp ABX.N was higher by 1.7 percent at $35.49 as gold rose to its highest level in two months and the U.S. dollar retreated against major currencies. [ID:nLH366054] Earlier Wednesday, the company lowered its estimates of damage to its North Mara mine in Tanzania from an attack last week. [ID:nLH571419]

In financials, Manulife Financial (MFC.N) sank 3.6 percent to $17.00, while Toronto-Dominion Bank (TD.N) fell 3.2 percent to $33.47. Worldwide financial issues were hit by more worries about fallout from the credit crisis as optimism faded over the U.S. Federal Reserve’s rate cut to near zero on Tuesday.

The Toronto Stock Exchange and the small-cap TSX Venture Exchange both failed to open on Wednesday due to a system fault with data feeds.

Exchange operator TMX Group (X.TO) said it intends to reopen the exchanges on Thursday morning. ($1=$1.19 Canadian) (Reporting by Jennifer Kwan; editing by Rob Wilson)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below