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TSX Sheds 59 Points at Midday As Energy Stocks Weigh Down

The TSX has shed 59 points at midday, dragged down mostly by energy stocks, with oil prices under pressure.

Oil was down 2%, and Action Economics ( AE ) said the market is hoping to get a better sense of how much upped U.S. shale production is offsetting agreed OPEC production cuts. The next clue on U.S. output, AE noted, comes at 1 pm ET, when the weekly Baker-Hughes rig count report is released.

Energy tumbled 0.9% and was followed by healthcare, which retreated by 0.5%. On the positive side, mining advanced 0.6% while metals gained 0.8%.

Total volume traded so far was 147.7 million shares. Orbite Technologies (ORT.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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