By Malcolm Morrison, The Canadian Press <\/p>\n
TORONTO - The Toronto stock market was higher Friday as traders picked up stocks that have sold off this month on worries about Greece leaving the eurozone and generally slowing economic conditions. <\/p>\n
Facebooks debut as a public company helped overshadow news out of Europe, at least temporarily. <\/p>\n
Facebook started trading on the Nasdaq Stock Market about half an hour late, at 11:30 a.m. EDT, after a computer glitch. Nasdaq said it had trouble delivering trade execution data related to the IPO. Its stock jumped to around US$42 shortly after the start of trading, before falling to $40.48 at mid-afternoon. The stock trades under ticker symbol FB. <\/p>\n
Facebook had priced its IPO at US$38 dollars per share Thursday, at the top of expectations. <\/p>\n
The S&P\/TSX composite index rose 43.24 points to 11,373.92, led by miners and energy companies even as prices for oil and copper hit fresh multi-month lows. The TSX Venture Exchange was ahead 5.65 points to 1,233.72. <\/p>\n
The pessimistic mood on markets has sent the TSX tumbling about 1,000 points or more than eight per cent to its lowest level since last October. <\/p>\n
The Canadian dollar lost ground amid lower commodities and data showed that inflation was slightly higher in April while prices for gold and copper gained ground after selling off this week. <\/p>\n
The commodity-sensitive loonie lost 0.26 of a cent to 97.87 cents US as Statistics Canada said that Canada's annual inflation rate rose to two per cent in April, from 1.9 per cent the previous month. <\/p>\n
The loonie has lost about three and a half US cents this month as tension over Greece sent traders to the safe haven status of U.S. Treasuries and away from riskier assets such as commodities and resource-based currencies such as the Canadian dollar. <\/p>\n<\/p>\n
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TSX heads higher; Facebook shares rise after delayed start of trading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market was higher Friday as traders picked up stocks that have sold off this month on worries about Greece leaving the eurozone and generally slowing economic conditions. Facebooks debut as a public company helped overshadow news out of Europe, at least temporarily. Facebook started trading on the Nasdaq Stock Market about half an hour late, at 11:30 a.m Continue reading