(Bloomberg) -- Canadian stocks fell for a third time
in four days, extending the Standard & Poor's/TSX Composite Index's
drop from a record, as concern the country's strengthening currency
will hurt profits weighed on such export-related stocks as Canadian
National Railway Co. and Cognos Inc.
The Canadian dollar rose to a 30-year high against its U.S.
counterpart this month on speculation the nation's central bank may
raise borrowing costs as early as next month to cool inflation,
while the U.S. Federal Reserve may maintain its rate. A commodity
boom has boosted demand for Canada's resources, which make up more
than half of exports.
Read more at Bloomberg Stocks News
in four days, extending the Standard & Poor's/TSX Composite Index's
drop from a record, as concern the country's strengthening currency
will hurt profits weighed on such export-related stocks as Canadian
National Railway Co. and Cognos Inc.
The Canadian dollar rose to a 30-year high against its U.S.
counterpart this month on speculation the nation's central bank may
raise borrowing costs as early as next month to cool inflation,
while the U.S. Federal Reserve may maintain its rate. A commodity
boom has boosted demand for Canada's resources, which make up more
than half of exports.
Read more at Bloomberg Stocks News
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