Markets

Canada Stocks Close Down 80 Points At Day Lows; Raging River All The Rage

Canada's main stock, the Toronto Stock Exchange, closed down near 80 points at day lows Thursday with most sectors lower, led by Industrials. Health Care stocks bucked the trend in etching out a small gain.

In individual terms, Raging River Exploration (RRX.TO) bucked the trend in gaining more than 6% and hitting new year highs with more than 5.5 million shares traded. March 20, it announced fourth quarter and year end 2012 operating and financial results, increased its 2013 guidance and expanded its credit facility.

Oil futures tumbled 1.5% in today's session, erasing the 1.1% gain they posted in yesterday's session, and finished at $92.09 a barrel. In its first full trading day as a front-month contract, crude oil for May delivery felt the pressure of demand concerns, stemming from the failure for Cyprus to reach a debt agreement needed to secure bailout funds.

Gold futures added 0.4% in today's session, recouping all of yesterday's losses on renewed safe haven demand after European Leaders imposed a hard deadline on Cyprus to come up with a bailout plan. If Cyprus leaders fail to come to an accord, the country will not receive the much needed bailout funds. April gold finished up 0.4%, more than recovering yesterday's 0.2% loss, to finish at $1,613.80 an ounce on the Comex.

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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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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