P.M. market numbers for January 26, 2010

| North American markets | International markets | Bonds | Currency | Commodities |

The Toronto stock market closed little changed Tuesday as a better than expected reading of American consumer sentiment wasn’t enough to curb worries about the economic recovery.

The S&P/TSX composite index inched up 6.68 points to 11,361.19, held back by falling energy and mining stocks.

The tepid performance followed a slight, 11-point gain Monday which followed a three-day sell-off that carved almost 3% from the main index.

The market had earlier been lifted by the U.S. Conference Board’s Consumer Confidence Index, which increased to 55.9 in January — the highest in more than a year. That was better than the 53.5 economists had forecast.

A reading above 90 means the economy is on solid footing. Above 100 signals strong growth.

"I think what we’ve seen in the early weeks of January is probably a good model for what we’re to experience through the bulk of the year," said Norman Raschkowan, chief investment officer at Mackenzie Financial Corp.

"You’re going to have these periods of optimism … and then, down the road, there will be some economic number that comes out or some statement from an official that gets people nervous again, and the market will pull back, then advance on some positive news. You’re going to have this sort of stop/start type market for this year."

The Canadian dollar was down 0.39 of a cent to 94.12 cents US.

The tech sector was the leading advancer, up almost 1% as Research In Motion Ltd. ran ahead 71 cents to $65.61.

The consumer staples sector rose 0.64% as grocer Metro Inc. said it was increasing its yearly dividend by 24% to 68 cents. The company said profits grew by 21% to $98.1 million, or 91 cents a share for the period ended Dec. 19. Quarterly sales hit $2.65 billion, a 1.7% increase over last year. Its shares gained 76 cents to $39.92.

The financials, depressed by U.S. President Barack Obama’s announcement last week that Washington would clamp down on bank risk-taking, rose 0.42%. Royal Bank advanced 66 cents to $53.37 and Bank of Montreal added 73 cents to $53.38.

The gold sector was also supportive as the February gold contract on the New York Mercantile Exchange gained $2.60 to US$1,098.30 an ounce. Goldcorp Inc. improved 47 cents to C$38.72.

The base metals sector led TSX decliners, down 2.2% as the March copper contract on the Nymex stepped back five cents to US$3.34 a pound amid lingering worries about reduced demand from China as that country’s banks curb lending. Labrador Iron Mines Holdings dropped $1.04, or 18.57%, to C$4.56.

First Quantum Minerals Ltd. shares drifted $3.48 lower to $84.82 after announcing the restarted of its Bwana Mkubwa copper plant in Zambia, saying it expected to run it at least until the end of this year. The plant had been idled in October 2008 due to a lack of feedstock.

The energy sector was down 0.54% as oil prices slid well below US$75 a barrel Tuesday, with the March crude contract on the Nymex declining 55 cents to US$74.71. EnCana Corp. fell 61 cents to C$33.76.

Investors have been discouraged in the past week by moves to restrict bank lending in China by raising reserve requirements. There were reports Tuesday that China had moved again to have some banks further raise those levels — and asked some not to issue new loans. Obama’s proposal to limit banks’ size and risky trading habits had also weighed on investor sentiment.

And on Tuesday, Standard & Poor’s lowered its assessment of Japan’s fiscal health, threatening a credit rating cut if the economy stays weak and debt remains sky high. In a surprise move, S&P affirmed the country’s double-A long-term debt rating but revised its outlook to "negative" from "stable."

There was also some major corporate deal-making in Canada. World Color Press Inc., the Montreal-based printing giant formerly known as Quebecor World, has agreed to be taken over by Quad/Graphics Inc. in order to create a combined company with 30,000 employees.

Quad/Graphics Inc. is currently the largest privately held printer in the United States but plans to go public in connection with the World Color takeover. World Color shares jumped $2.56, or 25.55%, to $12.58.

The TSX Venture Exchange moved 12.98 points lower to 1,533.87.

The Dow Jones industrials slipped 2.57 points to 10,194.29 as investors also went through the latest batch of quarterly earnings reports. The Nasdaq composite index lost 7.07 points to 2,203.73 despite a strong earnings report from Apple Inc. while the S&P 500 index was down 4.61 points at 1,092.17.

Huge sales of the iPhone and Macintosh computers led to a nearly 50% jump in net income at Apple. Apple also offered a profit and revenue forecast above Wall Street forecasts and its shares moved ahead $2.87 to US$205.94.

Earnings from some major companies, including insurer Travelers Cos. and chemical company DuPont, also provided some hope that the economy is strengthening.

(The Canadian Press)

North American markets

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	Close	Change	YTD
Dow Jones	10,194.29	-2.57 or -0.03%	-2.24%
S&P 500	1,092.17	-4.61 or -0.42%	-2.06%
NASDAQ	2,203.73	-7.07 or -0.32%	-2.88%
TSX Composite	11,361.19	+6.68 or +0.06%	-3.28%

International markets

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	Close	Change	YTD
Nikkei	10,325.28	-187.41 or -1.78%	-2.10%
Hang Seng	20,109.33	-489.22 or -2.38%	-8.06%
SENSEX	16,780.46	Closed	-3.92%
FTSE 100	5,276.85	+16.54 or +0.31%	-2.51%
CAC 40	3,807.04	+25.19 or +0.67%	-3.28%
DAX	5,668.93	+37.56 or +0.67%	-4.84%

Bonds

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Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	103.17	103.01	3.35
Cdn. 30-year bond	117.15	116.55	3.97
U.S. 10-year bond	98.05	97.97	3.61
U.S. 30-year bond	97.14	97.19	4.55

Currency

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BoC Close	Today	Previous
Canadian $	0.9412	0.9451
US $	1.0625	1.0581

Euro Spot Rate	Today	Previous
Canadian $	0.6686	0.6679
Euro	1.4956	1.4973

Commodities

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Gold	AM	PM
London Gold Fix ($US)	$1,090.75	$1,093.25

Oil	Open	Change
WTI Crude Future (US)	$74.68	-$0.58 or -0.77%

(01/26/10)