Canadian stocks lost more than 90 points on weak commodity prices
Canada’s main stock market, the resource-rich Toronto Stock Exchange, continues to move largely in line with commodity prices, losing more than 90 points and falling back to near the 20,600 level on Thursday – 300 points below all-time highs intraday earlier this month – with oil little changed and gold falling.
Reflecting the decline in commodity prices, among sectors, materials fell 2.9% and took about 70 points from the table. And energy fell 0.55%. Financials helped to cap losses by increasing 0.2%.
Among commodities, gold prices fell to month-long low on Thursday, pushed down nearly 2% after the US dollar climbed following a better-than-expected rise in retail sales in the states -United last month and bond prices fell. Gold for December delivery was down $ 38.10 to US $ 1,756.70 an ounce, the lowest since August 12.
West Texas Intermediate crude oil stabilized after rising yesterday to a high this month following a sharp decline in US inventories and amid continued supply disruptions in the Gulf of Mexico. WTI crude for October delivery closed unchanged at US $ 72.61 per barrel, Marketwatch reported. November’s Brent crude oil, the global benchmark, was last seen up $ 0.24 to US $ 75.70 while Western Canada Select rose $ 0.14 to US $ 60.63 on barrel.
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