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Tory majority offers comfort for markets

A business-friendly Conservative majority government gave financial markets some cause for comfort yesterday. But the news failed to inspire gains on the Toronto stock market, which tumbled almost 250 points as investors focused on rocky equity markets.

A business-friendly Conservative majority government gave financial markets some cause for comfort yesterday. But the news failed to inspire gains on the Toronto stock market, which tumbled almost 250 points as investors focused on rocky equity markets.

Resource stocks led declines as a stronger U.S. dollar pressured oil and gold prices, which in turn pushed down the Canadian dollar.

While analysts were relieved to see a majority government, the global financial picture — Mideast turmoil, the U.S. economic problem and European debt — quickly overshadowed the election results.

 
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