Canada’s main stock market continues to drop for the second day.
On Tuesday, the S&P/TSX Composite Index was down by 15.79 points, or 0.10 percent, to finish at 15,149.57. It had an intraday high of 15,159.58 and an intraday low of 15,086.30.
The Canadian dollar was hovers around 1.2628, or 79.18 cents. The recent gains for loonie can be attributed to the central bank’s prime interest rate hike and major expectations for another hike in coming months.
Prices for oil, a major export for Canada, rose on Tuesday as US crude oil WTI futures were up by 1.17 percent at 46.31 a barrel.
Canadian bond yields were all down across maturities. The 2-year bond yield was down by 0.42 percent at 1.193 and 10-year bond yield was down by 1.95 percent at 1.858. On Monday, Statistics Canada said that foreign investors bought $20.8 billion in Canadian bonds in May, the most since March 2015, buying a record amount of provincial government bonds.
Five out of the index’s 10 main groups ended negative on the day – industrials slumped 0.37 percent, materials lost 0.2 percent