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Canada Stocks Close Down; Energy and Industrials Lead Decline; Southern Pacific Resource Most Active

By: MT Newswires
Posted: 12/11/2013 4:01:00 PM
Referenced Stocks:

Canadian stocks closed lower on Wednesday notching up the largest 1-day loss of the month. All sectors were lower, led down by Industrials.

A sell-off in WTI crude oil led to a decline in energy shares, which pushed the TSX through the 50-day moving average. The next level of target support for the TSX is the 100-day moving average near 12,975.

Southern Pacific Resources was the most active share on the TSX. Today the Board of Directors initiated a process to identify, examine and consider strategic and financial alternatives. The stock closed down 50% with 24 million shares changing hands.