Quiet day in prospect for Bay Street as U.S. traders take Independence Day off

A man walks by an electronic stock board in Tokyo as Japan's key stock index extended its sell-off to a 12th straight session Friday, July 4, 2008, its longest slide in 54 years. THE ASSOCIATED PRESS/Katsumi Kasahara TORONTO - With Wall Street on holiday for the Fourth of July, Canadian financial markets were likely to be quiet on American Independence Day. European stock markets showed deepening losses amid new banking worries, after Asian indexes closed mixed. Crude oil slipped back below US$145 a barrel in overseas trading. The Canadian dollar opened at 98.31 cents US, up 0.16 cent from Thursday. The FTSE 100 index was down 1.1 per cent in afternoon trading in London, after Goldman Sachs predicted that an array of big European banks will have to hold back dividends or raise as much as 90 billion euros in new capital.... [read full story]                    

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