TSX Takes Two Day Losses To Around 275 Pts; It Might Have Been Worse But For Turquoise Hill Resources

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Canada's main stock market, the Toronto Stock Exchange, added to yesterday's 160 points loss with a decline of 113 points today. U.S. markets were down too amid continuing uncertainty about when the U.S. Federal Reserve will roll back its monetary stimulus program. There was, however, some hope for buyers - the market recouped around 20 points late on and finished with some upward momentum amid signs of bargain hunting.

All sectors were lower, with Industrials and Info Tech keeping losses to under 1%. Utilities lost more than 2% as a group and was the biggest percentage loser.

It might have been worse but for Turquoise Hill Resources (TRQ.TO) - which saw around 16 million of its shares traded, around 7 million more than the next most traded. TRQ closed up 2 cents at $6.33 but off a day high $6.50.


Among commodities, gold futures bounced back from early losses today to add US$15 and close at $1,392 per ounce. Dictating gold's movement today was traders mulling the prospects of whether or not the Federal Reserve will soon begin unwinding its monetary stimulus programs.

Crude oil ended up 0.5% at US$95.88 a barrel after the U.S. Energy Information Administration reported that U.S. crude-oil supplies rose by 2.5 million barrels last week to 393.8 million barrels. According to Platts, analysts were looking for no change.



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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