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.
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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.
