TSX Swings to Smaller Loss at Midday As Energy Rebounds, Industrials Cap Decline; Down 2 Points
Canada's benchmark index sharply narrowed its earlier losses to just 2 points at midday after energy stocks rebounded and industrials posted a smaller loss. The TSX was near an intraday high of 14,757.89.
The index has been in the red since opening bell after the International Monetary Fund lowered its global growth outlook for the third time this year and Germany's industrial output fell to a record low.
Mining was the worst performer, dropping 0.81% along with copper and silver prices. Industrials followed with a 0.55% decline.
On the other end of the spectrum, utilities garnered a 0.59% gain, making it the strongest sector. Energy, coming off from a loss, edged up 0.16%. Financials were ahead 0.07%.
Trading volume was more than 131 million shares. Lundin Mining (LUN.TO) was the most heavily 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.
Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.