Expected Keystone rejection slams TransCanada stock

News that the U.S. State Department is set to reject TransCanada’s proposed Keystone XL pipeline sent the company’s stock reeling this morning. TransCanada shares fell by over US$2 around midday, to a low of US$39.74 in New York, though they regained ground later in the day. The U.S. State Department is holding briefing on Keystone at 3 p.m. ET.