Markets

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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More