Markets

Canada Stocks Close Down Near 90 Pts Friday As Economic Turmoil in Turkey Weighs on Global Stocks

Canada's main stock market, the Toronto Stock Exchange, on Friday closed down around 90 points or 0.55%, and that is also more or less how the index finished the holiday shortened week -- having accumulated just about enough gains over Wednesday and Thursday to recover Tuesday's 130 lost points.

Losses here weren't as bad as those suffered in other jurisdictions as investors moved in to safer assets such as the U.S. dollar amid economic turmoil in Turkey. Trade and tariff concerns cast a dark cloud over trading for the whole week really.

Among commodities, WTI crude oil for September delivery settled around $0.82, or 1.2%, higher at near US$67.65 a barrel, boosted by the weekly Baker-Hughes active oil rig count revealing a 10-rig increase to 869, the highest since March 2015.

But gold futures for December delivery settled down $0.90, less than 0.1%, at US$1,219 an ounce as the U.S. dollar became the currency of choice for many amid concerns about what impact economic turmoil might have on say European and the euro.

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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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