Canada's main stock market, the Toronto Stock Exchange, lost 115
points Friday, adding to the 190 points lost yesterday, taking the
resources heavy index well away from the record high levels it was
running near earlier this week, and last. Today, weaker than
expected job numbers out of the States once again damped hopes that
the economy there - Canada's largest trading partner- is, in fact,
out of the recovery room after the most recent recession and on the
way to being healed.
Geopolitical concerns around Gaza and the Ukraine was probably
another factor to impact investor sentiment.
Also, many investors continued to take profits and positions
ahead of a Civic Holiday in Canada on Monday, and on talk that
North American equity markets are due a serious correction after
recent strong runs up.
Among sectors, all were lower, except for Info Tech. The
heavweight Energy, Financial and Mining sectors led the
Of commodities, gold was down for the week although it recovered
some ground Friday on weaker than expected U.S. Labor Department
nonfarm payrolls data. According to a report on Kitco News,
analysts said geopolitical and technical-chart factors may move
more to the forefront in the gold market next week since the U.S.
economic calendar will lighten.
On oil, West Texas Intermediate crude landed its biggest weekly
drop in seven months amid talk of lower demand as refineries slow
operations. Brent also slipped.
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