TSX Close: TSX Finishes Lower as Gold Shares Stumble on Lower Bullion Prices

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The Toronto stock market ended the day in negative territory as weaker bullion prices dragged down gold shares and the day's corporate earnings reports failed to impress investors.

The S&P TSX Composite Index closed at 12,748, down 53 points, falling sharply in the final hour or trading.

The materials sector was the main decliner on the TSX, falling 1.5% as April bullion shed 1.1% to settle at $1.649.10 on speculation demand for gold will slow during this week's Lunar New Year's holiday in Asia.

The energy sector was also weaker though crude oil prices reversed earlier declines to finish 1.4% higher at $97.03 a barrel. Cameco Corp. (CCO.TO) shares declined 3% after the company reported an 83% drop in quarterly profits.

Heavily traded San Gold (SGR.TO) shed 22% while BlackBerry (BB.TO) lost 4% following reports that Home Depot is dropping the BlackBerry smartphone for its executives in favour of the iPhone.



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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