Markets

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

A pen and a calculator.
Credit: Shutterstock photo

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos