Update: TSX Gains Less Than 10 Pts As Index Closes With Downward Momentum

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Canada's main stock market, the Toronto Stock Exchange, made it five gains in six days Friday. The index closed up 7.85 points at 15,214.96, but was around 30 points off session highs. Indeed, after earlier getting to near 10 points off the record high of 15,256.36 hit late Thursday morning, it ran out of steam in the second half of the day before succumbing to some late selling pressure.

According to BNN TV, trading volume of around 48.8 million shares was about 60% less than norm, not helped by the fact that U.S. markets were closed for the Independence Day celebrations.

Sectors were mixed with Industrials and Telecoms the biggest winners. Metals & Mining was the biggest loser - which seems to tally with the late selling in the resources rich overall index.

On commodities, a Bloomberg UK report published shortly after midday there said brent crude was headed for its biggest weekly decline in six months as Libya prepared to resume exports from two terminals and Iraq's crude production remained unaffected by violence. West Texas Intermediate fell for a seventh day, the longest retreat since 2009, it added.

Bloomberg reported earlier today that gold was rising in London, heading for the longest streak of weekly gains since March, after German factory orders fell more than expected. It said palladium traded near the highest price since 2001.



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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