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Stockhouse @ the Bell: Minerals and energy send TSX lower

Stockhouse Editorial
0 Comments| November 9, 2018

Energy shares fell 1.7% on tumbling oil prices, taking Canada’s main stock index with it on Friday. Oil fell to multi-month lows as global supply increases. A U.S. judge acted construction on TransCanada’s Keystone XL pipeline, which was bad news for Canadian oil and sent the company’s stock 1.7% lower. Corvus Energy Inc. lost 2.2%, while Canadian Natural Resources Ltd. lost 2.7%, Husky Energy Inc. and Imperial Oil also fell. The materials sector was down 1.6% after gold prices tumbled and the U.S. Federal Reserve tightened its monetary stance. Quantum Minerals Ltd. fell 7.6%.

The S&P/TSX Composite Index was down 83.03 points to 15,274.44, and the TSX Venture Exchange was down 15.64 points to 651.42.

The Canadian dollar was down $0.0037, remaining at 76 cents.

Crude oil prices were down 0.84 to $59.83.

The price of gold was down $13.31 to $1209.61.

In U.S. markets; the Dow sunk 201.92 points to 25,989.30, the S&P 500 dipped 25.82 points to 2,781.01, and the NASDAQ fell 123.98 points to 7,406.90.

In world markets; the Nikkei tumbled 234.18 points to 22,250.25, the Hang Seng plummeted 610.87 points to 25,601.92, the FTSE slipped 35.17 points to 7,105.34, and the DAX added 1.84 points to 11,529.16.


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