Arab Today, arab today canadian stock market moves lower as financials telecom lose ground
Last Updated : GMT 20:24:38
Arab Today, arab today
Arab Today, arab today

Canadian stock market moves lower as financials, telecom lose ground

Arab Today, arab today

Arab Today, arab today Canadian stock market moves lower as financials, telecom lose ground

Canadian stock market
Toronto - XINHUA

Canada's main stock market in Toronto on Tuesday extended losses following a big slump Monday, as the rebound of resources shares failed to offset the losses in the financial and the telecom shares. Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index was lower 49.31 points, or 0.34 percent, to 14,376. 24 points, with mixed performances in the eight most weighed sectors.

Resources shares, which dropped sharply Monday, were bouncing up Tuesday, with Energy going higher 0.38 percent and Metals and mining up 0.01 percent on the closing bell. Most of the companies from the oil-patch and the mining industry made upwards correction when oil prices gained some momentum.

However, the index was still hammered down into the red when Financials, the most influential sector which accounts for 35.58- percent weight in TSX, gave back 0.45 percent when shares of giant banks were in the losing streak. Royal Bank of Canada declined 0.7 percent to 76.62 Canadian dollars (about 59.17 U.S. dollars) while Bank of Nova Scotia lost 0.8 percent to 63.21 Canadian dollars a share.

Investors were in expectations about the upcoming interest rate hike by the U.S. Federal Reserve, the U.S. central bank. According to remarks made by Fed Chair Janet Yellen last week, U.S. interest rates will go up later this year if the economy keeps expanding. And St. Louis Fed chief James Bullard also said in an interview Monday there was a higher than 50 percent chance that the central bank will lift rates in September.

And the biggest loser was Telecom, which dropped 1.65 percent, when the leading telecommunication companies were dragged into the negative territory. Telus plunged 1.89 percent to 44.02 Canadian dollars a share while Rogers lowered 1.25 percent to 44.25 Canadian dollars per share.

Industrials lost 1.19 percent when Canada's biggest railway and aircraft maker Bombardier dived 4.79 percent to 1.79 Canadian dollars a share, and Canadian Pacific Railway Ltd. plunged 5.51 percent to 194.97 Canadian dollars after the railway giant said Tuesday it plans to slash 200 to 300 jobs later this year as the freight business shrinks.

On the currency front, the Canadian dollar on Tuesday rebounded slightly to trade at 0.7723 U.S. dollar, when compared with 0.7694 U.S. dollar Monday.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today canadian stock market moves lower as financials telecom lose ground Arab Today, arab today canadian stock market moves lower as financials telecom lose ground

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 13:40 2017 Thursday ,23 February

Muscat Securities Market loses 17 points

GMT 13:18 2017 Thursday ,23 February

Bahrain Bourse daily trading report

GMT 05:51 2017 Thursday ,23 February

Saudi stocks edge up as Brent futures rebound

GMT 20:48 2017 Wednesday ,22 February

Dividend announcements drive Muscat bourse

GMT 16:56 2017 Wednesday ,22 February

Global gold prices drop

GMT 16:01 2017 Wednesday ,22 February

Tadawul edges down 0.2%

GMT 13:22 2017 Wednesday ,22 February

Canadian stock market closes at record high

GMT 11:50 2017 Wednesday ,22 February

Most Asia markets up as Hong Kong rebounds
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday