Markets

TSX Slides Further with Resources, Industrials; Drops 40 Points Mid-Afternoon

The TSX extended its slide in mid-afternoon trading, dropping 40 points, after the resource and industrial groups continued their downtrend. But the benchmark index remains close to an intraday high of 15,198.88.

The main index continues to suffer a blow from weakening crude oil prices, although positive U.S. jobless claims data helped keep losses in check. Brent was down 0.9% at US$59.97 a barrel, hit hard by rising U.S. crude inventories and by the possibility of a surge in Saudi's output.

Miners led the decline with a 0.96% loss after Goldcorp (G.TO) fell 6.65% on the heels of financial results. Following were energy and industrials, which were both down 0.63%.

Info tech was the strongest sector, albeit modestly higher. Tech stocks were ahead 0.46%. Healthcare and utilities, both edging up 0.20%, came next.

Total volume traded exceeded 243 million shares. PhosCan Chemical (FOS.TO) was the most heavily traded stock.

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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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