Canada Stocks Close Lower; Strong Job Growth Creates Headwinds; Bombardier Inc. Most Active

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Canada stocks closed lower on Friday, down by 24 points, most sectors were in the red with Telecom and Info Tech leading the broader markets down. Metals and mining stocks were the best performers in a down tape, led higher by a $17.1 gain in gold prices which closed at $1,389.2 on the COMEX exchange.

Prior to the opening bell, Statistics Canada released their employment report. Canada's economy added a surprising 59,200 jobs in August, nearly triple the number expected, but most of the gains were in part-time work.

The unemployment rate edged down to 7.1 percent from 7.2 percent, with most of the hiring done in the services sectors, led by health care and social assistance. The stronger than expected number lifted bond yields creating headwinds for stock investors.

Bombardier Inc. (BBD.B) was the most active stock, with no fresh stock specific news driving volume. The stock down 0.80% with 6.6 million shares changing hands.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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