💙 🔷 Not impressed by Big Tech in Q3? Explore these Blue Chip Bargains insteadExplore for free

CANADA STOCKS-TSX slips from 4-month high as commodity prices retreat

Published 2017-09-26, 11:57 a/m
© Reuters.  CANADA STOCKS-TSX slips from 4-month high as commodity prices retreat
XAU/USD
-
BA
-
GC
-
HG
-
CL
-
GSPTSE
-
BBDb
-
ENB
-

* TSX falls 47.81 points, or 0.31 percent, to 15,468.42

* All of the index's 10 main groups fall

* U.S. crude oil prices decline 0.9 percent

* Gold futures fall 0.6 percent

TORONTO, Sept 26 (Reuters) - Canada's main stock index retreated on Tuesday from a four-month high hit in the previous session, as a drop in commodity prices weighed on the shares of oil and mining companies.

The energy group, which has rallied more than 15 percent since late August, declined 0.4 percent.

Global oil prices struck a 26-month high but then fell on profit-taking. U.S. crude CLc1 futures were down 0.9 percent to $51.75 a barrel. O/R

Shares of petroleum and gas pipeline operator Enbridge Inc ENB.TO fell 0.4 percent to C$50.84.

Regulatory hearings for the company's C$8.2 billion ($6.62 billion) Line 3 crude oil pipeline upgrade are to begin in the U.S. state of Minnesota, the last hurdle for the project. materials group, which includes precious and base metals miners as well as fertilizer companies, lost 0.4 percent as a pullback in the price of bullion weighed on gold mining stocks.

Gold futures GCc1 fell 0.6 percent to $1,298.8 an ounce, with investors booking profits after rising tensions between North Korea and the United States pushed the metal to a one-week high. GOL/

Copper prices CMCU3 also declined, falling 0.6 percent to $6,413 a tonne. MET/L

At 11:35 a.m. ET (1535 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE fell 47.81 points, or 0.31 percent, to 15,468.42.

All of its 10 main groups were lower.

The index posted on Monday its highest close since May 12 at 15,516.23.

Shares of Bombardier Inc BBDb.TO retreated 2.3 percent to C$2.09 ahead of a U.S. trade court's preliminary ruling, expected to be made public on Tuesday, on Boeing (NYSE:BA) Co's BA.N complaint that the company is dumping its new CSeries passenger jet in the U.S. aircraft market.

Still, the planemaker aims to close deals with Chinese airlines in time for an expected trip by Canadian Prime Minister Justin Trudeau to China next month, a senior Bombardier executive said. financials group, which accounts for more than one third of the index's weight, dipped 0.2 percent. Consumer staples shares were down 0.5 percent.

($1 = 1.2383 Canadian dollars)

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.