Arab Today, arab today canada\s main stock index retreats with mining shares
Last Updated : GMT 21:53:08
Arab Today, arab today
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Canada\'s main stock index retreats with mining shares

Arab Today, arab today

Arab Today, arab today Canada\'s main stock index retreats with mining shares

Toronto - XINHUA

Canada's main stock index lost 45. 33 points Friday as mining stocks lost ground and investors were concerned about the Purchasing Managers' Index data. Toronto Stock Exchange's S&P/TSX composite index was down 0.33 percent to close at 13,548.86, with the metals and mining sector leading the fall by 1.43 percent. Energy shares were also in the red shedding 0.63 percent. According to a latest monthly survey conducted by the Royal Bank of Canada in association with Markit, the RBC Canadian Manufacturing Purchasing Managers' Index fell to four-month low as both output and new order growth slows down. Besides, China's December PMI data showed that its factory activity slowed, arousing investors' concern about commodity prices in the future, which continuously weighed on the TSX, especially on shares of mining products. The metals and mining sector lost ground as March copper on the New York Mercantile Exchange shrank to 3.35 U.S. dollars a pound. Capstone Mining Corp., the Vancouver-based mineral producer, was down 2.67 percent to 2.92 Canadian dollars per share. Teck Resources Ltd. lost 2.5 percent to 26.89 Canadian dollars. The gold sector stumbled with China Gold International Resources Corp. Ltd. down 0.36 percent to 2.8 Canadian dollars. The company was reportedly eager to make an acquisition in Canada. According to Reuters, small and medium-sized miners are struggling to raise funds as investors have cooled on the sector. However, China Gold is in an enviable position of having ready access to finance through its biggest shareholder, China National Gold. Barrick Gold Corporation, the world's biggest gold producer, was down 1.18 percent to close at 19.31 Canadian dollars apiece. The Canadian dollar was up to 0.9403 U.S. dollar, from 0.9373 dollar on Thursday.

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