TSX Trims Early Gains to 19 Points Mid-Afternoon As Miners, Healthcare Extend Slide
The TSX managed to stay afloat, with energy and telecom stocks holding on to their gains, but the continuous decline in mining and healthcare shares pared the earlier climb to just 19 points in the mid-afternoon session.
Oil prices were still higher after major producer Saudi Arabia expressed its willingness to cooperate with other producers and exporters in stabilizing prices. Global benchmark Brent crude was last up 1.05% at US$45.13/barrel, while the WTI edged up 0.36% to US$42.05/barrel.
Meanwhile, gold and copper prices continued to drop, hurt by the strengthening of the dollar. The bullion slipped 0.89% to US$1,066.70/ounce, while copper fell 2.26% to US$2.013/lb.
The energy and telecom sectors were ahead by 1.80% and 0.74%, respectively. On the other side were miners, shedding 2.54%, and healthcare, down 1.03%.
Total volume traded exceeded 188 million shares. Trevali Mining (TV.TO) was the most actively traded stock.
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