CANADA STOCKS-TSX retreats as lower commodity prices pressure resource stocks
Published Jan 16, 2018 16:43
CANADA STOCKS-TSX retreats as lower commodity prices pressure resource stocks
* TSX ends down 72.93 points, or 0.45 percent, at 16,298.88
* Eight of TSX's 10 main groups end lower
* Materials group down 1.2 percent, energy off 1.9 percent
TORONTO, Jan 16 (Reuters) - Canada's main stock index fell on Tuesday as lower commodity prices weighed on the shares of materials and energy companies.
* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE closed down 72.93 points, or 0.45 percent, at 16,298.88.
* Losses for the index came as the recent rally on Wall Street paused.
* The materials group, which includes precious and base metals miners and fertilizer companies, fell 1.2 percent, while the energy group retreated 1.9 percent.
* The most influential weights included oil and gas producer Encana Corp ECA.TO , which fell 5 percent to C$16.72.
Barrick Gold Corp ABX.TO declined 3.1 percent to C$18.88 and diversified miner Teck Resources Ltd TECKb.TO was down 4.1 percent at C$37.06.
* Gold slipped from a four-month high reached on Monday as the U.S. dollar clawed back some lost ground, while copper and nickel hit multi-week lows. Crude prices also pulled back after recent gains. BlackBerry Ltd BB.TO fell 1.7 percent to C$17.18 despite launching cyber-security software that identifies vulnerabilities in programs used in self-driving cars. Eight of the index's 10 main groups ended lower.
* Yellow Pages Ltd Y.TO advanced 0.7 percent to C$8.27 after the company, once well known for its thick-print directories, said it would fire about 500 employees to cut costs and turn around its digital advertising platform. SSR Mining Inc SSRM.TO jumped 12.3 percent to C$11.48 after the precious metal miner reported fourth-quarter earnings and provided guidance for 2018. Constellation Software Inc CSU.TO climbed 6.9 percent to C$787.87 after its Harris Operating Group acquired Acceo Solutions for C$250 million.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.