Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

CANADA STOCKS-TSX falls as earnings misses, oil price fall weigh

Published 2016-10-26, 10:29 a/m
© Reuters.  CANADA STOCKS-TSX falls as earnings misses, oil price fall weigh
XAU/USD
-
AGU
-
POT
-
GC
-
LCO
-
CL
-
GSPTSE
-
DH
-
SLF
-
TD
-
CNI
-

(Adds details on individual stocks, updates prices)

* TSX down 52.93 points, or 0.36 percent, at 14,817.70

* Six of the TSX's 10 main groups up; energy off 1.4 pct

TORONTO, Oct 26 (Reuters) - Canada's main stock index fell in morning trade on Wednesday as energy shares followed oil prices lower, a small financial technology company plunged after its earnings missed expectations, and the country's largest railway posted a fall in revenue.

The energy group retreated 1.4 percent, with oil back below $50 a barrel as U.S. inventories rose and more doubts emerged about OPEC's ability to strike an effective deal to cut production next month. O/R

Canadian National Railway Co CNR.TO declined 2.7 percent to C$85.3 after it said quarterly revenue fell as it moved lower volumes of crude oil, coal and fracking sand. industrials group lost 1 percent overall, while the technology group slipped 2.3 percent, with financial technology company DH Corp DH.TO slumping 38 percent to C$17.79 after its earnings missed expectations and several banks slashed their views on the company. 9:58 a.m. EDT (1358 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 52.93 points, or 0.36 percent, at 14,817.70.

While six of the index's 10 main groups were in positive territory, decliners outnumbered advancers by 1.7-to-1 overall.

On the positive side, the financials group gained 0.2 percent, with insurer Sun Life Financial Inc SLF.TO up 1 percent to C$44.39 and Toronto-Dominion Bank TD.TO adding 0.2 percent to C$60.44.

Potash Corp POT.TO rose 1.6 percent to C$22.57, and Agrium Inc AGU.TO advanced 1.1 percent to C$125.1.

But the materials group, which includes precious and base metals miners as well as fertilizer companies, lost 0.4 percent.

U.S. crude CLc1 prices were down 1.9 percent to $49.03 a barrel, while Brent crude LCOc1 lost 2.1 percent to $49.74.

Gold futures GCc1 were flat at $1,272 an ounce. GOL/

A planned EU-Canada summit to sign a free trade deal was still possible on Thursday, European Council President Donald Tusk said on Wednesday, as Belgian politicians entered a second day of talks on the future of the pact.

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.