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TSX Down 42 Points at Midday As Materials Weigh

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The TSX fell 42 points at midday as weak metal prices dragged down material stocks.

Gold, silver, and copper were under pressure on Thursday, and Action Economics said the dollar was broadly higher, given the continuation of risk-on conditions. Treading the opposite direction, oil was up by more than 2%, driven by the ongoing rally in the U.S. stock market.

Mining and metals shed 2.2% and 2.1%, respectively. Energy slipped 0.2%. On the positive side, telecom was in the lead, gaining 1.2%, with Rogers Communications (RCI-B.TO) climbing 5% on the back of better-than-expected adjusted profit.

Total volume traded so far was 182.5 million shares. AltaGas (ALA.TO) was the most actively traded stock.

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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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