TSX Flat Mid-Afternoon As Resource Rally Offset Tumbling Info Tech, Financials
The TSX further reduced its earlier losses and was down by just 9 points in the mid-afternoon session as the rally in energy and mining stocks continued, helping offset the negative impact of info tech and financial shares.
Crude oil prices were back in the red in the afternoon as traders weigh the recently reported record-high build in U.S. stockpiles against the proposed production cut by the OPEC. At last peek, Brent was down 0.6% at US$36.59/barrel, while the WTI fell 0.2% to US$34.33/barrel.
The mining and energy sectors rallied 12% and 1%, respectively. Healthcare also climbed 1%. The info tech and financial groups retreated by 1.2% and 0.8%, respectively.
Total volume traded already exceeded 330 million shares. First Quantum Minerals (FM.TO) was the most actively traded stock.
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