Canadian stocks slightly lower despite oil rally

Toronto, April 29 (IANS) Canada’s main stock market in Toronto inched down closing as financial and energy stocks declined, while Bombardier shares rose after the company won a multi-billion-dollar order for its CSeries passenger jets.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index lost 1.23 points, or 0.01 percent, to close at 13, 886.43 points on Thursday, Xinhua news agency reported.

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

Oil prices continued to rally Thursday as the US dollar depreciated against other currencies, making the dollar-priced crude less expensive and more attractive for buyers holding other currencies.

The West Texas Intermediate for June delivery added 70 cents to settle at $46.03 a barrel on the New York Mercantile Exchange, while Brent crude for June delivery increased 96 cents to close at $48.14 a barrel on the London ICE Futures Exchange.

The Canadian dollar traded higher at $0.7969, compared with Wednesday’s closing rate of $0.7925.



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