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TSX Turns to Loss As Resources, Financials Drag; Down 53 Points at Midday

The TSX was lower at midday, erasing modest gains from earlier, as resource and financial stocks dropped for another straight day, following weak data out of the two biggest economies of the world. The benchmark index was down by 53 points, slightly above a day low of 13,437.21.

Reports said China's factory activity shrank for a seventh-straight month, raising concerns about the economic health of the energy and industrial metal consumer. Simultaneously, data reportedly revealed that the growth of the U.S. manufacturing sector remained low in almost two years.

At midday, the mining and energy groups were down 2.02% and 0.63%, respectively. Financials gave back 0.75%. Only the health care and utility sectors were in the green, up 0.58% and 0.51%, respectively.

Total volume traded so far reached 106.2 million shares. Bombardier (BBD-B.TO) was the most actively moving 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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