TSX Down 36 Points at Midday As Financials Lead Decline; Miners Limit Losses
The TSX shed 36 points at midday, weighed down mostly by financial and industrial shares, although the rally in miners helped limit the decline.
Gold was strong on Tuesday after the dollar plummeted to a 17-month low and as traders seek refuge in safe-haven assets amid the uncertainty surrounding the U.S. Fed's monetary policy and the proposed output freeze by major oil producers. Oil, at last check, was well under US$40/barrel even as prices have been trending higher.
Also influencing sentiments was Canada's trade deficit, which unexpectedly increased, with exports dropping.
Financials were the weakest, shedding 0.9%, and were followed by industrials, which retreated 0.6%. Energy was down by only 0.1%. On the positive side, miners were advancing 1%. Healthcare gained a modest 0.4%.
Total volume traded so far stood at 171.6 million shares. Pacific Exploration & Production (PRE.TO) was the most actively traded stock.
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