Business World

North American stock markets closed little changed following yesterday's solid advance.

Toronto's S&P/TSX composite index moved 15.27 points lower to 10,588.79, held back by declining energy stocks. The main index had surged 234 points following positive reports on manufacturing in China and the U.S.

U.S. dollar weakness continued to inflate the value of the Canadian dollar, which closed up 0.85 of a cent to 92.51 cents US, its highest close since early October last fall.

Positive news from the housing sector helped send New York's Dow Jones industrial average up 19 payday loan lenders.43 points to 8,740.87 after jumping 221 points. The Nasdaq composite index moved up 8.12 points to 1,836.8 as the National Association of Realtors says its index of sales contracts signed in April rose 6.7 per cent, the biggest jump in eight years

The TSX energy sector was down 2.3 per cent as oil prices eased following a series of hikes that have taken crude close to the US$70 a barrel level. The July crude contract on the New York Mercantile Exchange slipped three cents to US$68.55 a barrel.

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