TSX Down 33 Points on Mostly Negative Sectors -- Miners, Financials, Post Biggest Losses
The TS is down 33 points this morning on mostly negative sectors. Miners are the biggest loser this morning, shedding 1.15%, followed by financials and utilities, both down 0.94%.
Energy is down 0.8%. Crude oil is trading at US$35.43 per bbl this morning. Oil is down after an unexpected fall in gasoline demand in the United States, the first in 14 months, and on persistent doubts whether oil producers can agree an output freeze to dampen a global supply glut.
Reuters reported that Iran is ramping up oil exports and has said it will not join OPEC and non-OPEC members in a production freeze. Iran's Deputy Oil Minister Marzieh Shahdaei said she will not attend the Doha meeting.
Canada's trade deficit jumped to $1.91 billion in February from $628 million in January as exports slumped by their most in nearly seven years, Statistics Canada data indicated on Tuesday.
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