TSX Closes Down Near 30 Pts, But Nearly 60 Pts Above Session Lows Hit In Afternoon Trade

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Canada's main stock market, the Toronto Stock Exchange, made it a hat trick of successive losing days Tuesday on its return to action following the long holiday weekend here. But while it did lose close to 30 points, it was another 60 points lower in afternoon trade, so there is upward momentum going in to Wednesday's session.

The resources heavy index was weighed by lower commodity prices after a report showed China's services industry was stagnant in July. Also, West Texas Intermediate crude was down for the sixth time in seven days and brent hit four month lows as Bloomberg cited speculation that refineries will slow operations, easing demand.

Among sectors, all but Industrials, Telecoms and Utilities were lower. Health Care was the biggest loser.


Among other commodities, gold rallied to post modest late gains on some safe haven demand. Both gold and silver were pressured by a higher U.S. dollar.



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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