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TSX Down 91 Points at Midday As Telecoms, Resources Dive

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The TSX shed 91 points at midday, dragged down mostly by telecom, energy, and material stocks.

Reports said the Canadian Radio-television and Telecommunications Commission has lowered the interim rates that bigger providers such as BCE (BCE.TO) and Rogers Communications (RCI-B.TO) can charge their re-sellers.

Meanwhile, commodity prices were in the red as data on the slower pace of U.S. jobs growth showed little effect on the U.S. Federal Reserve's plan of raising rates this year.

Mining ang metals were down by 0.4% and 0.5%, respectively, while energy slipped by 0.9%. Telecoms retreated by 1.6%.

Total volume traded so far was 161.5 million shares. Yamana Gold (YRI.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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