Monday , September 26 2022

The Toronto stock market falls as an energy sector that is hurt by lower oil prices business


TORONTO – The main stock index of Canada has lost a few days ago on Thursday as a further reduction in the price of oil to a low risk of eight months on the key energy sector.

Markets on the two sides of the border were softer after a very strong day following the mid-United States, said research analyst at Franklin Bissett Investment Management.

"What's really special on Canadian markets is that we see oil coming into a bear market, down now 21 percent since the high season on October 3, on concerns that the market will be overstated and raised US lists, "he said in an interview.

The raw contract in December fell for a ninth instant session, reducing $ 1 at US $ 60.67 per barrel. That is the lowest level since March 8.

The S & P / TSX composite index closed 11.96 points to 15,357.47 after a low hit of 15,293.29 on 414 million shares traded.

The healthcare sector fell most because cannabis stocks gave some strong earnings Wednesday back. Loss of energy stocks 1.66 percent.

Industries rejected a 24 per cent reduction in Bombardier shares after investors were concerned about their free cash guides for free in the efforts to re-focus the company through the sale of some assets.

According to Moss, companies have faced quite significant price movements recently when they are not expected.

Canada Tire won almost three percent after the strong results of Thursday, while Freshii Inc. hit a low schedule of $ 1.95 and shut down 33.4 percent to $ 2.65 after drawing back its 2019 prospects.

"We probably feel we're more in the hands of this lecture market later, and we've seen some quite inflated prices and high street expectations," he added. .

In New York, the industrial average of Dow Jones earned 11.12 points to 26,191.42. The S & P index lost 500 7.05 points at 2,806.84, while the Nasdaq compound had reduced 39.87 points at 7,530.88.

Moss said that the Federal Reserve's decision not to raise interest rates had a significant impact on markets. However, it expects the last rate increase of the year in December.

He traded an average Canadian dollar of 76.25 cents in US compared to an average of 76.36 cents in the United States on Wednesday.

December natural gas contract down 1.2 cents at US $ 3.54 per mmBTU.

The December gold contract was down US $ 3.60 at US $ 1,225.10 one and the December copper agreement down 1.85 cents at US $ 2.74 pounds.

Ross Marowits, The Canadian Press

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