Canadian stocks lower on widened trade deficit

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Toronto, April 6 (IANS) Canada’s main stock market in Toronto dipped lower as financial issues weighed after the country’s trade deficit unexpectedly jumped and exports slumped.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index lost 31.49 points, or 0.24 percent, to close at 13, 304.66 points on Tuesday, Xinhua news agency reported.

Six of the TSX index’s eight main sub-sectors were lower.

Canada’s international merchandise trade deficit with the world widened from 628 million Canadian dollars ($477 million) in January to 1.9 billion Canadian dollars in February, according to Statistics Canada.

The agency said Canada’s exports fell 5.4 percent to 43.7 billion Canadian dollars in February, after reaching a record high in January. Export prices decreased 3.2 percent and volumes were down 2.2 percent.

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Imports declined 2.6 percent to 45.6 billion Canadian dollars, as prices were down 1.4 percent and volumes decreased 1.2 percent.

The Canadian dollar traded lower at $0.7601, compared with Monday’s closing rate of $0.7650.

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