TSX Loses 100 Pts, Led Lower By Telecoms and Miners


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Canada's main stock market, the Toronto Stock Exchange, closed down 103 points Wednesday amid reports Chinese Premier Li Keqiang said that country has limited room to use government spending and policy stimulus to boost its economy, likely reducing demand for raw materials in the future But the TSX did recover more than 20 points from session lows over the final hour, which may be a sign that investors and traders here are still on the look out for bargains.

Market sentiment wasn't helped by the release of some poor economic news out of Germany and the U.S. too, damping suggestions that a global economic recovery is well underway.

All sectors closed lower, led by Telecoms and Metals & Mining.

Gold finished lower today, down over 2% at US$1,394.10 per ounce, pressured by a strengthening dollar which made the commodity more expensive for holders of international currency. This was the metal's lowest close since April 19th. Also dampening the metal's appeal was a climb in equities and continued outflows from gold ETFs . The other precious metals also took a hit from the strengthening dollar and climb in U.S. equities.

Oil ended 0.1% higher at US$94.30 a Barrel

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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