Canada rises as world trends downward

Nevil Gibson | Saturday July 4 2009 - 10:08am Canadian stocks gained for the first time in three days, bouncing back from Wall Street’s 223-point drop in the Dow on Thursday and breaking with the downward trend on other world markets that were open. Trading was subdued as US markets were closed on Friday for the Independence Day holiday observance. Stocks fell in Europe and Asia, extending the MSCI World Index’s longest weekly losing streak since March. The MSCI World lost 0.1% to 946.80 as 12 stocks fell for every seven that rose. The gauge of 1654 companies in 23 developed nations slipped 1.8% this week. Developing countries’ share of worldwide equity value climbed to a record as the fastest- growing economies lured investors amid the first global recession since World War II. The 22 nations classified as “emerging” by... [read full story]                    

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