Canadian stocks slightly lower despite oil rally

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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.

–IANS

pgh

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