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CANADA STOCKS-TSX down as Fed rate-hike speculation weighs on commodities

Published 2016-05-19, 11:14 a/m
© Reuters.  CANADA STOCKS-TSX down as Fed rate-hike speculation weighs on commodities
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* TSX down 123.15 points, or 0.89 percent, to 13,702.86
* Nine of the TSX's 10 main groups were down

TORONTO, May 19 (Reuters) - Canada's main stock index fell
on Thursday to a one-week low, including losses for energy and
financial stocks as Federal Reserve interest rate hike
speculation weighed on commodity prices.
Among the top decliners was First Quantum Minerals Ltd
FM.TO , down 4.81 percent to C$8.31, while Canadian Natural
Resources CNQ.TO dropped 2.39 percent to C$37.10.
At 10:13 a.m. EDT (1413 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE fell 123.15 points, or 0.89
percent, to 13,702.86.
Nine of the index's 10 main groups were lower.
The energy group retreated 1.9 percent, with Enbridge Inc
ENB.TO dropping 1.95 percent to C$51.35.
The financials group slipped 0.8 percent.
Industrials fell 0.9 percent.
Federal Reserve officials had felt the U.S. economy could be
ready for another interest rate increase in June, according to
meeting minutes released on Wednesday.
U.S. crude CLc1 prices were down 2.8 percent to $46.86 a
barrel, while Brent crude LCOc1 lost 3.0 percent to $47.48.
Gold futures GCc1 fell 2.1 percent to $1,247.5 an ounce.
Copper prices CMCU3 declined 1.3 percent to $4,555 a
tonne.
Declining issues outnumbered advancing ones on the TSX by
188 to 40, for a 4.70-to-1 ratio on the downside.

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