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TSX Swings to Loss Mid-Afternoon, Down 5 Points, As Miners Move Into the Red; Industrials Remain Positive

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The TSX moved into the red in mid-afternoon trading, slipping 5 points to settle at 15,221.65, as mining stocks swung to a loss. The benchmark index touched a new record high of 15,269.39 in the morning.

Investors appeared to have brushed off news that the U.S. imposed sanctions on Russia in the most punishing measures taken to date by the economic superpower, with upbeat jobs data showing fewer Americans filed new claims for unemployment benefits somehow keeping losses in check.

Miners fell 0.55% despite a 1.35% jump in gold prices , after raking in a 0.12% gain at midday. Energy shares remained the biggest loser, down 0.80%, with natural gas prices off 4.22%. Financials shaved off 0.24%.

Meanwhile, industrials climbed 0.85%, as Canadian Pacific Railway (CP.TO) added 3%, following better-than-expected quarterly results. Healthcare was also in the green, up 0.11%.

More than 200 million shares have changed hands so far. B2Gold (BTO.TO) was the most actively traded.

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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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