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Update: TSX in Triple Digit Decline as Crude Oil Prices Stumble


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Canada's main stock market was in in decline through the day, on bearish momentum from global markets. The S&P/TSX Composite Index shed 113 points Tuesday or 0.7% to close at 15,913.

Energy led decliners, falling more than 3% as crude oil dropped nearly 2%. Healthcare was also weaker, as were materials, despite a gain in gold prices . Financials lost 0.2%. Only telecom was in the green, thanks to Rogers Communications (RCI-B.TO), which rose 1% and was the day's most influential gainer.

In other stock news, Bombardier shares (BBD-B.TO) shares climbed nearly 2% after Egypt's flagship state carrier EgyptAir signed a letter of intent to order 12 Bombardier CS300 passenger aircraft for $1.1 billion. DHX Media (DHX-B.TO) was flat, giving up earlier gains, after reporting better than expected earnings. Canopy Growth (WEED.TO) fell 2% after reporting weaker earnings, but a surge in sales. The cannabis company has said it is currently focused on growth, not profitability. Canadian Natural Resources (CNQ.TO), one of the day's influential decliners, shed 4.5% while Cenovus Energy (CVE.TO) lost 5% after selling an asset in Saskatchewan for $940 million.

There were no Canadian economics reports Tuesday. The Teranet/National Home Price Index for October and the October existing home sales report are both due on Wednesday. Later in the week, manufacturing shipments are due (Thursday) as well as the CPI (Friday).

The Canadian dollar was little changed, off two pips to 78.52 US.

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 , Stocks


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