🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

CANADA STOCKS-TSX falls as Brexit tumult grows, financials take brunt

Published 2016-06-27, 11:12 a/m
© Reuters.  CANADA STOCKS-TSX falls as Brexit tumult grows, financials take brunt
MGA
-
GSPTSE
-
FFH
-
TD
-
MFC
-
RY
-

(Adds details from early trade, updates prices)
* TSX 206.86 points, or 1.49 percent, at 13,685.02
* All of the TSX's 10 main groups fall

TORONTO, June 27 (Reuters) - Canada's main stock index fell
on Monday, weighed by financial and energy companies, while
investors picked out some stocks exposed to the turmoil
unleashed by Britain's vote to leave the European Union last
week.
Oil prices plunged about 2 percent amid a rallying dollar
and continued market uncertainty in the aftermath of Thursday's
vote, while Canadian banks fell in sympathy with European peers.
The five most influential falls on the index were financial
stocks, with Royal Bank of Canada RY.TO down 3 percent to
C$74.87, and Toronto-Dominion Bank TD.TO off 1.7 percent to
C$54.33. Insurer Manulife Financial Corp MFC.TO declined 3.6
percent to C$16.72 and the overall financials group lost 2.1
percent.
At 10:42 a.m. EDT (1442 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was down 206.86 points, or
1.49 percent, at 13,685.02. All 10 of the index's main groups
were in negative territory, with six decliners for every gainer.
Car parts manufacturers Magna International Inc MG.TO shed
5 percent to C$44.67. Magna has nine manufacturing facilities in
England and plans for another.
The energy group retreated 1.8 percent, while industrials
fell 1.7 percent.
Offsetting the declines was a string of gold miners, as
bullion maintained a two-year high hit on Friday, as well as
Fairfax Financial Holdings Ltd FFH.TO , expected to perform
well in an economic downturn given its bets on low growth and
low rates. It advanced 2.1 percent to C$679.055, after jumping
on Friday when most of its financial services peers fell.
The materials group, which includes precious and base metals
miners and fertilizer companies, lost 0.2 percent.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.