TSX Dives 84 Points at Midday As Energy Stocks Tumble
The TSX shed 84 points at midday, dragged down mostly by energy and healthcare stocks.
Action Economics said the market is correcting after running higher into the weekend's meeting of OPEC and other key producers, which, as expected, affirmed that most of the agreed 1.8 million barrels per day output cut had already been achieved. Brent was last down 0.6% at US$55.18/barrel.
Energy retreated by 2.3% and was followed by healthcare, which tumbled 0.8%. Only mining and metals were in the green, up 1.2% and 0.7%, respectively.
Total volume traded so far was 178.3 million shares. Bombardier (BBD-B.TO) was the most actively traded stock.
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