TSX inches higher amid uncertainty

The Toronto stock market finished slightly higher on Tuesday as weak commodity prices and further uncertainty about a Spanish bailout defined an erratic trading session. The S&P/TSX composite index gained 21.04 points to 12,391.23, after dipping in and out of negative territory throughout the day. The TSX Venture Exchange lost 6.92 points to 1,331.78.

The Canadian dollar fell 0.16 of a cent (U.S.) to 101.60 cents.

Reports that a potential bailout request from Spain could happen soon attracted traders’ attention, though the country’s prime minister downplayed expectations that he will make a request for a bailout loan.

As well, Greece’s government is in talks with its debt inspectors over its latest austerity measures. If the inspectors refuse to sign off on the measures, Greece faces the prospect of not getting its next batch of bailout funds, a development that may lead to its exit from the euro.

On Wall Street, the Dow Jones industrials dropped 32.75 points to 13,482.36. The Nasdaq composite index lifted 6.51 points to 3,120.04 and the S&P 500 index was up 1.26 points at 1,445.75. December bullion pulled back $7.70 to close at $1,775.60 an ounce. The December contract for copper rose 1.6 cents to $3.80 a pound. Copper is viewed as an economic barometer because it is used in so many industries. November crude on the New York Mercantile Exchange moved down 59 cents to $91.89 a barrel.