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Canadian market ends low

Xinhua, December 31, 2016 Adjust font size:

Canada's main stock market in Toronto retreated on the final day of trading in 2016, as markets close on Monday for New Year's Day holiday.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite slipped 134.53 points, or 0.87 percent, to finish the session at 15,287.59 points. Nine of the ten sub-sectors ended the year in negative territory.

After ending 2015 at 13,010 points, the market gained nearly 2,300 points during 2016, a 17.51 percent gain. This was the highest single-year performance for the market since 2009, when it surged 30.69 percent.

During the last session of 2016, Materials group took the biggest hit, falling 2.82 percent. After combining for a 7.00 percent gain in the two sessions prior, the group that is comprised of producers of gold, precious metals and raw materials retreated due to falling gold and silver prices. An ounce of gold gave back 0.59 percent to 1,150.90 U.S. dollars, while the price for the same weight of silver slipped 1.49 percent to 15.88 U.S. dollars.

As a result of the price drops, eight of the ten most actively traded stocks on the day belonged to the group. Toronto-based Excellon Resources Inc. and Vancouver-based B2Gold Corp. stocks saw the biggest decline, slumping 6.82 percent and 6.45 percent, respectively. Meanwhile, Toronto-based Barrick Gold, the world's largest producer of bullion, fell 2.85 percent to 21.49 Canadian dollars (16.00 U.S. dollars) a share.

Industrials and Energy groups also contributed to the day' s loss, dipping 0.98 percent and 0.69 percent, respectively.

Industrials retreated as Bombardier Inc. and Canadian National Railway Company shares fell 0.46 percent to 2.16 Canadian dollars (1.61 U.S. dollars) and 1.61 percent to 90.36 Canadian dollars (67.31 U.S. dollars), respectively.

Meanwhile, Energy group fell as price of crude oil ticked down. A barrel of Brent in London for March delivery inched down 6 cents to 56.75 U.S. dollars a barrel. Subsequently, Calgary-based energy firms Encana Corporation and Baytex Energy Corp. saw respective declines of 1.38 percent and 1.20 percent.

Other groups to finish the day in negative territory were: Consumer Discretionary (0.74 percent), Information Technology (0.71 percent), Telecommunications (0.58 percent), Financials (0.57 percent), Utilities (0.46 percent), and Consumer Staples (0.42 percent).

Financials faded as shares Manulife Financial, Canada's largest insurance firm, retreated 0.50 percent to close the year at 23.91 Canadian dollars (17.81 U.S. dollars).

The long group to advance was the TSX Health Care group, surging 4.34 percent. The group which consists of three pharmaceutical firms and two long-term care companies all saw gains on the day. Laval-based pharmaceutical firm ProMetic Life Sciences Inc. continued its recent rally, soaring 16.75 percent to 2.23 Canadian dollars (1.66 U.S. dollars) a share. The stock has reeled off five straight positive sessions for a combined 40.25 percent increase.

The Canadian dollar gained 0.0045 to close the year at 0.7449 U.S. dollars. Endite