Canadian stock market drops

Toronto, Dec 31 (IANS) Canada’s main stock market in Toronto slumped as lower commodity prices in crude oil and gold weighed on energy and mining sectors.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index fell 103.46 points, or 0.78 percent, to 13,142.29 points, down for a second consecutive day on Wednesday, Xinhua reported.

Seven of the TSX index’ s eight main sectors went down.

Oil prices plunged as US crude stockpiles increased unexpectedly. The WTI for February delivery was down $1.27 to $36.6, dragging TSX’s energy group to a fall of 2.48 percent.

One of the leading decliners on the market was Canadian Natural Resources Ltd, which fell 2.63 percent to 30.32 Canadian dollars (about $22) a share.

Enbridge Inc fell 2 percent to 27.50 Canadian dollars a share as the company said on Tuesday it has halted operations on its Ozark pipeline due to flooding along the Mississippi river.

Related Posts

Leave a Reply