By Ketki Saxena
Investing.com -- Toronto's main stock index, the S&P/TSX Composite index declined today, tracking Wall Street lower after yesterday's release of hawkish minutes from the US Federal Reserve, which reiterated that further rate hikes may be on the way.
The TSX also continued to be pressured by data earlier this week showed a higher-than-expected increase in consumer price inflation, which fuelled fears of further interest rate hikes from the Bank of Canada.
The commodity-heavy TSX gained some support from crude prices after China's central bank sought to reassure investors following the country's property market woes and a weakening wider economy.
Toronto Stock Markets News
Teck Resources (TSX:TECKa) surged after a Bloomberg report that India's JSW Steel is contemplating the acquisition of a majority stake in Teck's steelmaking coal business.
Canopy Growth (TSX:WEED) shares rose after the cannabis company announced it will be selling its Hershey Drive facility, located in Smiths Falls, Ontario, to Hershey Canada for $53 million.
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In Canadian Economics
Statistics Canada reports that Canadian investors acquired $14.4 billion of foreign securities in June, the highest level in seven months.
On the other hand, foreign investors increased their holdings of Canadian securities by $12.6 billion.