TSX Close: TSX Finishes Lower as Commodities Prices Decline on Fiscal Cliff Worries

By MT Newswires,  December 28, 2012, 04:04:24 PM EDT

The Toronto stock market closed lower Friday as commodity prices fell amid worries that U.S. politicians might not reach a budget deal before the end of the year, sending the U.S. over the fiscal cliff.

The S&P/TSX Composite Index finished 57 points lower at 12,316, close to session lows of 12,307.

The TSX's industrials sector led decliners, falling nearly 1%. Materials were down 0.4% as gold stocks lost ground. Energy and financials were also in negative territory.

Heavily traded stocks included Poseidon Concepts (PSN.TO, -13%), IAMGOLD (IMG.TO, -0.7%) and Research in Motion (RIM.TO, +0.5%).

Crude for February delivery shed 7 cents, or 0.1%, to settle at $90.80. Oil finished the holiday-shortened week 2.4% higher.

Gold fell $7.80, or 0.4%, to settle at $1,656.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices fell 0.3% for the week.




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.


This article appears in: Investing, Commodities

Referenced Stocks:



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