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TSX Still Flat As Miners, Energy Offset Financials; Up 8 Points Mid-Afternoon

The TSX remained slightly changed and was up by only 8 points in the mid-afternoon session, barely lifted by soaring energy and mining stocks. The decline in financial stocks has been limiting the climb.

In the news was Scotiabank (BNS.TO), which fell recently after Barclays said the bank's plan of considering strategic options for its 49% stake in Thanachart Bank Public may be a signal that its International Banking focus has shifted to concentrate on the Americas, Central, and South. The stock was last down 1.6%.

Meanwhile, oil prices reversed their earlier upward trend after the EIA report of increasing inventories finally hit sentiments. Brent crude dropped 1.1% to US$36.66/barrel, while the WTI plummeted 1.4% to US$34.45/barrel.

The mining and energy groups were ahead by 6.7% and 1.5%, respectively. Telecoms gained 1.2%. On the other side, financials fell 1% while industrials shed 0.2%.

Total volume traded already exceeded 324 million shares. Bombardier (BBD-B.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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