TSX Closes Higher, But With Downward Momentum and 40 Pts Off Day Highs


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Canada's main stock market, the Toronto Stock Exchange, on Wednesday closed up 12 points, but was up 30 points with as many minutes left and closed 40 points off mid-morning highs. The late downward momentum scuppered hopes that the index might have another go at reaching the 15,000 level, which would put it back within firing range of the six year highs hit last week.

Sectors were mixed, but the one that appears to have had the most impact is Financials which came under some late selling pressure and was down 0.2% late on.

Of commodities, gold recovered from overnight and early North America session lows after the release of weak Q1 U.S. GDP data and closed little changed. Meanwhile, Bloomberg on Wednesday afternoon reported that West Texas Intermediate crude rose for the first time in three days after the federal government opened the door to more U.S. oil exports. Brent, it said, dropped as Iraq pledged to increase production.

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

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This article appears in: Investing , Commodities

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