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TSX Down 48 Points Mid-Afternoon As Energy Continues to Drag

The TSX fell 48 points in the mid-afternoon session, as weak oil prices continued to drag down energy stocks.

Oil was down 2%, and Action Economics ( AE ) said the market is hoping to get a better sense of how much upped U.S. shale production is offsetting agreed OPEC production cuts. The next clue on U.S. output, AE noted, comes at 1 pm ET, when the weekly Baker-Hughes rig count report is released.

Energy retreated by 1% and was followed by utilities, which shed 0.6%. On the positive side, mining advanced 0.9% while metals gained 0.8%.

Total volume traded was 211.5 million shares. Orbite Technologies (ORT.TO) was the most actively traded.

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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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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