RTTNews - Canadian stocks are little-changed after three straight days of decline. Investors pondered the consumer price index report and looked ahead to Research in Motion (RIM.TO) results after the bell.
The S&P/TSX Composite Index has inched up 10.06 points or 0.09% to 10,076.32. The index closed at a three-week low yesterday.
Mining stocks are up 1.8% as Teck Resources (TCK.B.TO) has gained 3.8%. The company said that it has agreed to sell one-third interest in Teck's Waneta Dam in southeastern British Columbia to BC Hydro for C$825 million.
In corporate news, Mineral resource explorer Iamgold (IMG.TO) raised its fiscal-2009 gold production outlook. However, the full year production outlook for niobium was lowered slightly. On the report, shares are down 4.3%.
WestJet Airlines (WJA.TO) has slipped 1% after the company said that the WestJet Pilots Association ratified the 2009 pilot agreement, effective July 1. About 89% of the pilots voted in favor of the agreement.
Bombardier (BBD.B.TO) shares are down 0.3%. The Toronto Star reported Toronto's transit system is expected to announce it will buy 204 streetcars from the company.
In economic news, consumer prices inched higher by 0.1% in May, down from the 0.4% increase in April. Economists were looking for consumer prices to slip 0.2%. Core prices excluding energy and food advanced 2.0% over the 12 months to May, up from the 1.8% rise posted in April.
Across the border, a Labor Department report showed that initial jobless claims rose to 608,000 from the previous week's revised figure of 605,000. Economists had expected jobless claims to edge up to 604,000 from the 601,000 originally reported for the previous week.
The S&P/TSX Composite fell 241.29 points or 2.34% to settle at 10,066.11 on Wednesday. This marked the lowest finish since May 22.
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