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Roundup: Canadian stock market edges down ahead of U.S. Fed Chair Yellen's remarks

Xinhua, September 25, 2015 Adjust font size:

Canada's main stock market in Toronto on Thursday followed the losing streak for a third consecutive trading day ahead of U.S. Federal Reserve Chair Janet Yellen's speech on inflation dynamics and monetary policy.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index slightly lowered 45.02 points, or 0.34 percent, to close at 13,338.67 points.

Investors were in the speculation about the outlook of the global growth, ahead of Yellen's comments on inflation and monetary policy Thursday evening.

The Fed decided to keep its benchmark rate unchanged rates last Thursday but said that the U.S. central bank is on track to raise rates this year if economy evolves as expected.

Weighed by investors' uncertainty, the most weighed sector Financials lowered 0.49 percent when Royal Bank of Canada, the largest company by market value in TSX, was down 0.54 percent to 71.35 Canadian dollars (about 53.58 U.S. dollars) a share.

And the insurance company Manulife Financial Corp. lost 0.2 percent to 20.41 Canadian dollars per share.

Health Care lost 3.12 percent, the biggest slump by percentage, and Industrials plunged 1.64 percent.

Bombardier Inc., the biggest aircraft and railway maker in Canada, tumbled 8.18 percent to 1.46 Canadian dollars per share.

By contrast, the resources shares made upwards correction, with the energy sector up 0.16 percent and the mining sector gaining 0.18 percent after the oil prices bounced slightly higher.

Barrick Gold Corp., the biggest gold producer in the country, rallied 10.38 percent to 8.72 Canadian dollars a share and Yamana Gold Inc. gained 6.05 percent to 2.28 Canadian dollars a share, as the most active gold contract for December delivery advanced 22.30 U.S. Dollars to settle at 1,153.80 U.S. dollars per ounce on the New York Mercantile Exchange.

On the currency front, the Canadian dollar on Thursday climbed higher to 0.7509 U.S. dollar, when compared with 0.7492 U.S. dollar Wednesday. Endit