Markets

Canada Stocks Close Lower; Trade Surplus Narrows; Healthcare Drives Loses

Canada stocks closed lower on Tuesday, most sectors were down led by Healthcare and Infotech.

Gold prices ended the U.S. regular session modestly lower on some profit taking and a lessening of safe haven buying. Meanwhile, Bloomberg reported that West Texas Intermediate crude rose above US$100 a barrel after Morgan Stanley said stockpiles at Cushing, Oklahoma, are weeks away from reaching minimum levels. The grade's discount to Brent crude shrank, it said.

Canada's trade surplus narrowed to $79 mln in March, close to expectations (median C$0.1 bln) after a revised $847 mln surplus in February (was $290 mln). Exports fell 1.4% m/m in March, but after a sharp upward revision to February that left a 5.9% surge (was +3.6%). Exports in March were driven lower by a 7.9% drop in energy product exports that followed three sizable monthly gains. Imports rose 0.4% in March after an upwardly revised 3.1% gain in February.

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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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