CANADA STOCKS-TSX hits 4-month low as resources slump amid global selloff

By Kitco News / February 02, 2018 / www.kitco.com / Article Link

* TSX down 254.89 points, or 1.61 percent, at 15,606.03

* All of the TSX's 10 main groups were trading lower


(Updates share prices)

TORONTO, Feb 2 (Reuters) - Canada's main stock index slumped to a four-month low on Friday, with natural resource shares leading broad based declines as commodity prices dropped and higher bond yields pressured global equity markets.

U.S. crude prices were down 1.1 percent at $65.09 a barrel, while Brent crude lost 2 percent to $68.27. The energy group retreated 2.5 percent. Suncor Energy slipped 1.8 percent to C$43.81, and Canadian Natural Resources Ltd dropped 1.4 percent to C$41.88.

The financials group slipped 1.2 percent. Bank of Nova Scotia gave back 0.9 percent to C$80.01, and Canadian Imperial Bank of Commerce lost 1.7 percent to C$119.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 2.8 percent. Barrick Gold Corp slipped 3.7 percent to C$17.04, and Goldcorp Inc fell 2.9 percent to C$17.02.

Gold futures fell 1.3 percent to $1,331.34 an ounce. Copper prices declined 0.6 percent to $7,079 a tonne. The Toronto Stock Exchange's S&P/TSX composite index closed down 254.89 points, or 1.61 percent, at 15,606.03, its biggest drop since May. All of the index's 10 main groups were in negative territory.


(Reporting by John Tilak and Fergal Smith; Editing by Tom Brown)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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