Off the wire
• No agreement between Sporting manager Jesus and Benfica  • Roundup: U.S. stocks end mixed amid data, rate hike concerns  • 1st LD Writethru: U.S. dollar rises on policy divergence  • 1st LD Writethru: U.S. stocks end mixed amid data, rate hike concerns  • Reducing China's air pollution may prevent about 900,000 cardiovascular deaths by 2030: study  • Chicago corn, soybeans, wheat sharply lower as USDA raises crop stock outlook  • Roundup: Millions of children's lives at stake as El Nino strengthens, UNICEF warns  • Germany's benchmark DAX index closes up  • ECB foreign exchange rates of Euro to other currencies  • El Nino leads to food insecurity in Ethiopia: UN agencies  
You are here: 　 Home

Roundup: Canadian stock market weakens over continuous selloff in miners

Xinhua, November 11, 2015 Adjust font size:

Canada's main stock market in Toronto Tuesday extended losses for a five straight day as a continuous sell-off in the mining shares weighed on trading sentiment.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index was down 70.99 points or 0.53 percent to 13,411.63 points.

Following a big slump on Monday, Metals and mining led the fall by 3.56 percent on Tuesday as most of the base metals shares lost ground. The copper makers First Quantum Minerals Ltd. nosedived 6.62 percent to 6.21 Canadian dollars (about 4.68 U.S. dollars) and Teck Resources Ltd. declined 3.01 percent 6.77 Canadian dollars as well.

And the energy sector was lower 0.33 percent while the info tech sector decreased 1.1 percent.

Meanwhile, the index was dragged down as investors were in speculation about the possibility of an interest rate hike soon by the U.S. central bank, which may weigh on the commodities prices.

The persistent strength in U.S. demand was cemented by the broad strength in the October employment report, according to a report released by TD Bank on Tuesday, the U.S. Federal Reserve is likely to begin the process of normalizing interest rates by raising the federal funds rate at its next meeting on December 16th, which will mark the first increase in its policy rate since October 2006.

However, Financials and Utilities bucked the trend, higher 0.04 percent and 0.58 percent respectively.

On the economic beat, according to the latest provincial economic report released by Statistics Canada on Tuesday, real gross domestic product (GDP) increased for all provinces and territories in 2014 except Newfoundland and Labrador, New Brunswick and Yukon. The Northwest Territories (5.8 percent) had the largest increase, followed by Alberta (4.8 percent) and Nunavut (3.3 percent). Nationally, real GDP rose 2.5 percent in 2014, compared with a 2.2 percent gain in 2013.

On the currency front, the Canadian dollar was slightly higher to 0.7539 U.S. dollar at 4 O'clock (the Canadian Eastern Daylight Time) on Tuesday , when compared with 0.7533 U.S. dollar on Monday. Endit