Markets May Pout As Liberals Win Election -- Canadian Commentary

(RTTNews) - Canadian stocks are set for a quiet open Tuesday, even as the Liberal Party swept Canada's parliamentary election, ending nearly a decade of rule by the Conservatives.

Liberal leader Justin Trudeau, the 43-year-old son of late Prime Minister Pierre Trudeau, said Canadians had voted for real change.

Business leaders may not be as happy with the election result. Yesterday, the S&P/TSX composite index fell 79.72 points to close at 13,758.38.

Canadian Pacific Railway Limited (CP.TO) revealed a profit for its third quarter that rose compared to the same period last year.

The company said its bottom line came in at C$427 million, or C$2.69 per share. This was higher than C$400 million, or C$2.31 per share, in last year's third quarter.

Brookfield Office Properties Canada (BOXC) announced earnings for third quarter that retreated compared to the same period last year.

The company said its profit totaled C$25.2 million, or C$0.27 per share. This was lower than C$30.0 million, or C$0.32 per share, in last year's third quarter.

On the economic front, Statistics Canada reported wholesale trade edged down 0.1% to $55.3 billion in August.