Off the wire
• Economic forecast raises alert over rising New Zealand debt  • Chinese state councilor calls for building high-level China-Myanmar strategic partnership  • News Analysis: First Trump-Clinton debate has yet to convince undecided voters  • U.S. presidential nominees fail to offer policy specifics in debate, say Mexican experts  • Obama praises Peres as one of few people who change history  • Zambian president to create four more ministries  • Cuba to continue medical program in Brazil despite political turmoil  • Tokyo stocks retreat in morning on ex-dividend selling, strong yen  • Mainland expresses condolences to typhoon-hit Taiwan compatriots  • World's highest glass bridge to reopen after one-month overhaul  
You are here: 　 Home

Toronto stocks retreat as commodities weigh

Xinhua, September 28, 2016 Adjust font size:

Canada's main stock market ended the day down Tuesday for a second straight session as declines in crude oil and gold prices weighed in.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index fell 61.42 points, or 0.42 percent, to close at 14,558.04 points. Four of the index's ten sub-sectors were in the negative on the day.

Crude oil gave back Monday's gains, as government members of Saudi Arabia and Iran both hinted that a deal would not be signed by Organization of the Petroleum Exporting Countries (OPEC) and non-members at the conclusion of this week's informal meetings in Algeria.

As a result, November contract prices of U.S. light sweet crude fell 1.00 U.S. dollar to 44.93 U.S. dollars a barrel in New York. In London, the price of a barrel of Brent crude for November delivery dropped 1.20 U.S. dollars to 45.86 U.S. dollars.

The energy sector retreated 1.79 percent on the day. Calgary-based firms Suncor Energy Inc. and Baytex Energy Corp. saw shares fall 1.44 percent and 2.99 percent, respectively to close at 34.18 Canadian dollars (25.88 U.S. dollars) and 4.87 Canadian dollars (3.69 U.S. dollars).

Gold prices also slipped, with Globex prices retreating 11.07 U.S. dollars to 1,337.97 U.S. dollars an ounce. The TSX Materials group, which feature miners of gold and other precious metals, was down 1.48 percent on the trading day.

Shares of Australian miner OceanaGold traded in Toronto plunged 14.01 percent to 4.05 Canadian dollars (3.07 U.S. dollars) after the Philippines announced the closure of its Luzon plant for environmental violations. Meanwhile, prices of Barrick Gold, the world's largest gold miner, fell 1.90 percent to 17.60 Canadian dollars (13.29 U.S. dollars a share).

The Canadian dollar was up 0.0017 to close at 0.7573, compared to yesterday's end of day rate of 0.7556 U.S. dollars. Endi