Loonie drops half a cent as TSX makes modest gains

North American markets are drooping today as investors play a waiting game with the Fed and lower metal and oil prices weighed on resource stocks
Loonie drops half a cent as TSX makes modest gains
Author

26 August, 2016

The Toronto Stock Exchange's S&P/TSX composite index fell by 45.07 points at 14,719.70.

The December gold contract fell $3.80 to $1,325.90 (U.S.) an ounce and September copper contracts were just under $2.08 (U.S.) a pound, little-changed from the previous close.

On the TSX, the materials group, which includes precious and base metals miners and fertilizer companies, lost 2.9 per cent.

Oil prices were also volatile following a report that showed higher than expected US inventories of crude and gasoline.

The October crude contract was down US$1.37 at US$46.73 per barrel in late morning trading.

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He said that the Sultanate Council was building a community of tolerance for peace, progress and political stability in Nigeria . It's also risky , " Kerry said. "Fear instilled through repression invites not confidence but contempt, it creates terrorists".


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USA crude oil futures settled up 69 cents at $48.10 a barrel after Reuters reported that Iran was sending positive signals that it may support joint OPEC action to prop up the market.

Its shares dipped 37 cents, or 0.45 per cent, to $81.86.

On Tuesday, the TSX had touched a one-week high at 14,796.56.

USA crude prices were down 1.1 per cent to $47.59 a barrel as data pointing to a potential build in domestic crude stockpiles offset speculation of an output freeze by major oil producers.

Fluctuation in gold stocks comes ahead of a speech on Friday by Federal Reserve Chair Yellen that might offer clues on the outlook for USA interest rates.


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