The majority of stocks in the Canadian market have been crumbling down due to the lackluster performance of the local energy sector. The whole Canadian main stock index continues to fall today as a massive ripple effect from Monday’s ruckus. Financial stocks were also caught in the bearish turbine recording lows and decreases.
On the most recent news, the Toronto Stock Exchange’s benchmark Standard and Poor’s/TSX Composite Index were down by a good 3.96 points or a total of0.03% in total and managed to close for the day at the 15,052.03 figure. Just last Friday, the index was also dipping from the problematic energy sector; the index was down by a total of 20.17 points or 0.13% and closing at 15,055.99.
Some more stocks like the financial group Manulife also experience the countrywide turbulence in stock prices and shed 18 cents to 24.60 Canadian dollars. Another financial institution that got caught in the debacle was the Bank of Nova Scotia which was also down by a good 39 cents, easing to a total of 77.25 Canadian dollars.
On the other hand, the local banks such as the Toronto-Dominion
Other local banks such as the National bank of Canada and the Bank of Montreal were also listing some losses; both banks tallied a dip of about 0.52% and 0.53% respectively. All-in-all, the Financial Index suffered a massive 0.37% decrease on the previous ruckus.
These are the main culprit
On the brighter side, the gold index was slightly up despite the massive market depreciation. The index was up by a good 0.99% and managed to peek at the $1,300 mark an ounce earlier this week. The surging gold was a byproduct of the failed attempt on the part of the European Central Bank to buoy the euro last week and at the present.
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