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TSX Flat Mid-Afternoon As Resources Further Drop, Offsetting Rally in Healthcare, Info Tech

The TSX was down by just 5 points in the mid-afternoon session, erasing earlier gains, as the decline in energy and mining stocks continued, cancelling out the climb in info tech and healthcare shares.

Oil has been in focus on Wednesday after Iran reportedly said it would be willing to negotiate with Saudi Arabia to cut production. In contrast, the EIA reported an increase of 1.3 million barrels in gasoline supplies. Brent and the WTI crude were still going on opposite directions, with Brent up 2.2% at US$31/barrel and the WTI down 1.2% at US$27.62/barrel.

The healthcare and info tech stocks were still in the lead in the positive territory, advancing 1.2% and 2.6%, respectively. On the other side, energy plunged 1.70%, while miners retreated 1.1%.

Total volume traded already exceeded 289 million shares. B2Gold (BTO.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.

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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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