TSX Down 19 Points at Midday; Miners Tumble on Lackluster Gold Prices

By MidnightTrader.com Staff,

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The Canadian main stock index was little changed at midday, down nearly 19 points to reach 14350.20.

Dropping bullion prices sent mining stocks falling 2.4%, as investors shy away from safe-haven assets, given the easing geopolitical tensions in Ukraine and the probable scale back by the U.S. Fed of its monetary stimulus program. Financials and healthcare were also in the red, down 0.2% and 0.8%, respectively.

In the positive zone, info tech was the biggest gainer, up 0.7%. Telecom came in second, up 0.5%. Energy stocks, which Caldwell Securities Portfolio Manager John Kinsey reportedly said have been investors' comfort zone, nudged up by 0.1%, as crude oil prices increase 0.1%.

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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