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Canada Stocks Close Lower; Canadian GDP Buoys Broader Index; Most Sectors Lower; Petrominerales Most Active
By: MT Newswires
Canadian stocks closed lower on Monday, as headwinds generated from an imminent shutdown of the US Government dragged on the TSX. Most sectors were lower, with Metals and Mining along with Healthcare the worst performers.
Canadian GDP in July was slightly better than expected helping buoy the broader market. The Canadian economy recovered in July from temporary disruptions the month before, growing by 0.6 percent, the highest in two years, after a 0.5 percent fall in June, Statistics Canada said on Monday.
Petrominerales Ltd (PMG.TO) was the most active stock. Pacific Rubiales Energy Corp. (PRE.TO) announced that it has entered into an agreement with Petrominerales Ltd. to acquire all of the outstanding common shares of Petrominerales. The stock close higher by 51% with 17 million shares changing hands.