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CANADA STOCKS-TSX ends at six-week low as gold, energy weigh

Published 2018-03-28, 04:50 p/m
© Reuters.  CANADA STOCKS-TSX ends at six-week low as gold, energy weigh
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March 28 (Reuters) - Canada's main stock index closed at a six-week low on Wednesday as a retreat in gold and oil prices weighed on mining and energy companies, though a rebound in Hudson Bay shares helped curb declines.

* Gold miners were the biggest decliners among materials stocks with First Quantum FM.TO , Ivanhoe Mines IVN.TO , Turquoise Hill Resources TRQ.TO each dropping more than 7 percent as gold eased from a near six-week high on a strengthening in the U.S. dollar. Spot gold XAU= dropped 1.4 percent to $1,325.52 an ounce. U.S. gold futures GCcv1 fell 1.30 percent to $1,324.50 an ounce.

* The dollar index .DXY rose 0.8 percent, with the euro EUR= down 0.74 percent to $1.2309.

* The energy sector also flagged as oil prices settled almost 1 percent lower after a report showed a surprisingly large increase in U.S. crude inventories. BlackBerry BB.TO lost 1.38 percent to $15.76 even after it beat profit estimates for the 14th straight quarter on higher margins from software and services sales. Hudson's Bay HBC.TO closed 1.18 percent higher at $8.61, rebounding from earlier declines in the wake of the department store operator's quarterly results as investors digested its earnings and savings forecast. The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was down fell 46.24 points, or 0.3 percent, to 15,169.94.

* The largest percentage gainer on the TSX was Badger Daylighting BAD.TO , which rose 12.6 percent, while Ivanhoe, down 7.9 percent, was the largest percentage decliner.

* The TSX posted two new 52-week highs and 14 new lows.

* Volume on the TSX index was 221.34 million shares, while the total volume on Wednesday was 322.48 million shares.

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