TSX Up 45 Points Mid-Afternoon As Energy, Miners Remain Strong; Health Care Still The Weakest Group
The TSX was up just 45 points by mid-afternoon after mining and energy stocks gave back some of their earlier gains.
The International Monetary Fund's latest forecast on global economic growth had investors worried after the Fund said it now expects the world economy to expand by 3.1% this year and 3.6% in 2016, both 0.2 percentage points below the July forecast. The Fund cited the weakness in commodities and in China's economy.
Keeping the market afloat, however, Brent crude rose over 4% to US$51.33/barrel on hopes OPEC and non-OPEC members would convene and discuss about current market conditions.
The mining and energy groups were up 5.20% and 2.75%, respectively, while financials edged up 0.66%. Health care was still the biggest decliner, shedding 3.55%.
Total volume traded already exceeded 305 million shares. First Quantum Minerals (FM.TO) was the most actively moving stock.
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