TSX Extends Slide As Utilities Slump, Resources Turn Negative; Down 110 Points at Midday
The TSX was lower at midday, shedding as much as 110 points, after resource stocks reversed their earlier upward trend and utility shares continued to slide, offsetting modest gains in the health care group.
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 as it damages oil installations. At last check, Brent was down 0.41% at US$48.17/barrel.
At midday, the mining and energy groups were down 0.12% and 0.17%, respectively. Financials fell 0.49%, while utilities tumbled 1.32%. The health care sector gained 0.68%.
Total volume traded so far stood at 162.8 million shares. Bombardier (BBD-B.TO) was the most actively traded stock.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.