TSX Slides with Energy, Healthcare; Down 127 Points at Midday
The TSX plunged on Friday as expected, following a report from the International Energy Agency that prompted traders to shy away from oil. The benchmark index shed as much as 127 points at midday.
The International Energy Agency warned of slower demand growth in 2016, saying consumption is likely to drop to 1.2 million barrels per day next year. The agency also expects the market to remain oversupplied. At last check, Brent crude was down 4.2% at US$38.06/barrel, while the WTI crude slid 2.8% to US$35.72/barrel.
At midday, the energy group tumbled 3.4% and was followed by healthcare, which eased 1.5%. Info tech was also notably lower with losses of 1.4%. Only miners were gaining, albeit modestly, and were ahead 0.3%.
Total volume traded so far reached 143.2 million shares. First Quantum Minerals (FM.TO) was the most actively traded stock.
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