TSX Limps Home Friday To Close At Session Lows; Cline Mining Most Traded, Hits New Yr Lows

By MidnightTrader.com Staff,

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Canada's main stock market index lost around 40 points in the last hour Friday to end the day down more than 170 points at day low levels.

It was hurt by overseas factors including slower-than-expected economic growth data from China that dampened hopes of increased demand for commodities and also a spike in Spain's borrowing costs that had a negative impact on banks.

Most actively traded again was Cline Mining (CMK.TO) which fell 13% and hit a new year low of 92 cents with around 16.3 million shares traded. It was trading at $2.24 mid-January and has blamed the share price drop on coal prices.

Oil prices fell on Friday and posted a weekly loss after data showed that first-quarter economic growth in China, the world's No. 2 oil consumer, was the weakest in nearly three years, reinforcing concerns about slowing demand for petroleum, Reuters reported. It said a stronger dollar and a slip in U.S. consumer confidence in early April, as gasoline prices hit household budgets, also pressured oil prices.

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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