Canada’s main stock index sunk on Thursday, pressured by a drop in metal prices, as investors look ahead to more corporate earnings domestically and from the United States. Losses led by the energy sector, followed closely by the heavyweight mining, financial, industrial and tech sectors, were the main factors causing the TSX to give back its gains made in the previous session (and then some).
Sponsored by
Markets also tumbled south of the border, as investors weighed the latest corporate earnings reports, including solid results from Meta Platforms (NDAQ:META), which posted stronger-than-expected Q2 2024 results and closed 4.82 per cent higher. Stocks were coming off their own winning session as the Federal Reserve held interest rates steady.
The Canadian dollar traded for 72.08 cents U.S. compared with 72.41 cents U.S. on Wednesday.
U.S. crude futures traded $0.86 lower at $77.05 a barrel, and the Brent contract lost $0.59 to $80.25 a barrel.
The price of gold was down US$6.13 to US$2,439.16.
In world markets, the Nikkei was down 975.49 points to 38,126.33, the Hang Seng was down 39.64 points to 17,304.96, the FTSE was down 84.62 points to 8,283.36, and the DAX was down 425.60 points to 18,083.05.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: File)