Canadian Stocks Declining, Led By Metals and Mining Issues

By Staff,

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Canadian stocks are mostly lower today, with the steepest declines among shares of metals and mining shares, which had enjoyed two good days of gains after recent heavy sell offs.

In economic news, consumer prices rose 1.5% year-over-year last month, following a 1.2% gain in May. The increase in the Consumer Price Index ( CPI ) was led by higher prices for passenger vehicles and, to a lesser extent, for electricity, according to Statistics Canada. Shelter costs also continued to rise.

Here's where the major Canadian market indices stand this afternoon:

- S&P/TSX Composite Index down 65.75 (-0.6%) to 11,599.95.

- S&P/TSX Venture Composite Index up 2.35 (+0.2%) to 1,193.22.

In company news, Penn West Energy Trust (PWE, PWE.TO) shares are down 2% following a downgrade of the stock by Stifel Nicolaus to Hold from Buy. RBC Capital Markets earlier this week also cut its rating from Outperform to Sector Perform while cutting its price target to $17 from $25 a share.

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

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: CPI

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