TSX Drops 127 Points Mid-Afternoon; Slumping Resources Offset Small Gains in Health Care
The TSX dove by 127 points in the mid-afternoon trade, following further declines in energy and mining stocks, which cancelled out marginal gains in health care.
Oil prices were down on Thursday after reports said that hurricane Joaquin, which could hit New York on Tuesday, is now seen as a less intense tropical storm, easing the threat to U.S. oil installations. The hurricane was originally thought to affect oil supply by damaging oil installations. At last check, Brent was down 0.93% at US$47.92/barrel, while the WTI slipped 0.20% to US$45/barrel.
By mid-afternoon, mining and energy were plummeting 1.72% and 0.92%, respectively. Utilities shed 0.96%, and financials retreated 0.46%. Health care bucked the trend, gaining 0.41%.
Total volume traded so far exceeded 227 million shares. Bombardier (BBD-B.TO) was the most actively traded stock.
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