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Canadian market suffers biggest loss in 7 weeks after Trump's travel ban

Source: Xinhua   2017-01-31 07:35:02

TORONTO, Jan. 30 (Xinhua) -- Canada's main stock market in Toronto saw its largest decline since Dec. 14 on Monday, as U.S. President Trump's travel ban on seven predominately Muslim countries caused uncertainty in investors.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite dipped 170.69 points, or 1.10 percent, to start the week at 15,405.12 points. All of the ten sub-groups finished the session lower.

At one point in the day, the index was down more than 200 points and on track to suffer its worse single-day loss since September.

The Energy and Information Technology groups were hit the hardest on the day, slipping 2.40 percent and 1.93 percent, respectively.

The energy group slumped for a third straight session and lowest closing mark since mid-November, as crude oil and natural gas prices both retreated on the day. March futures of Brent crude oil in London fell 0.31 percent to close at 55.24 U.S. dollars a barrel, while March natural gas prices on the New York Mercantile Exchange slipped 3.87 percent o 3.228 U.S. dollars per million British thermal units.

Baytex Energy Corp., Encana Corporation, and Suncor Energy Inc., a trio of Calgary-based energy firms that among the top-15 most actively traded stocks on the day, saw respective losses of 4.95 percent, 2.81 percent and 1.65 percent.

The TSX IT group lost ground on the day as Blackberry shares fell 2.01 percent to close at 9.27 (7.07 U.S. dollars). Also contributing was a 1.76 percent decline in stock price of Montreal-based CGI Group, which closed at 63.13 Canadian dollars (48.12 U.S. dollars) a share.

Other groups that also fell by more than one percent on the day were Industrials (1.14 percent) and Utilities (1.09 percent).

Industrials was impacted by Bombardier shares being the fourth most actively traded stock on the day with more than 5.8 million shares exchanged. Ultimately, the stock price of the Montreal-based transportation manufacturer closed at 2.49 Canadian dollars (1.90 U.S. dollars), a 1.97 percent decline.

Also slipping in the Industrials group were Canada's two largest airlines. Shares of Air Canada finished 2.10 percent lower, while Calgary-based WestJet Airlines Ltd. lost 2.02 percent.

The remaining groups to finish Monday lower were: Materials (0.98 percent). Financials (0.76 percent), Consumer Discretionary (0.74 percent), Consumer Staples (0.61 percent), Telecommunications (0.45 percent), and Health Care (0.39 percent).

The Materials group, which is comprised of producers of gold, precious metals, and raw materials finished nearly one percent lower despite bullion prices finishing ahead on the day. The spot price for an ounce of gold closed at 1,195.30 U.S. dollars, a 0.34 percent increase from Friday. Other metals didn't trend in the same direction, as an ounce of silver fell 0.29 percent to 17.07 U.S. dollars and a pound of copper closed 0.87 percent lower to finish at 2.6423 U.S. dollars.

The most actively traded stock on the day was Vancouver-based gold producer New Gold Inc., who released their updated 2017 guidance that will see an increase in gold production during the year at a 19 to 25 percent increase in cost than the year prior. As a result of the news, shares plummeted 25.38 percent to 3.88 Canadian dollars (2.96 U.S. dollars).

Gold miners B2Gold Corp. and IAMGOLD Corporation were the next two most actively traded stocks on the day, gaining 0.77 percent and 0.68 percent, respectively. Copper miner Ivanhoe Mines Ltd. shares sank 4.32 percent to 3.99 Canadian dollars (3.04 U.S. dollars).

The Canadian dollar opened the week 0.13 cents higher to close at 0.7623 U.S. dollars..

Editor: xuxin
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Canadian market suffers biggest loss in 7 weeks after Trump's travel ban

Source: Xinhua 2017-01-31 07:35:02
[Editor: huaxia]

TORONTO, Jan. 30 (Xinhua) -- Canada's main stock market in Toronto saw its largest decline since Dec. 14 on Monday, as U.S. President Trump's travel ban on seven predominately Muslim countries caused uncertainty in investors.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite dipped 170.69 points, or 1.10 percent, to start the week at 15,405.12 points. All of the ten sub-groups finished the session lower.

At one point in the day, the index was down more than 200 points and on track to suffer its worse single-day loss since September.

The Energy and Information Technology groups were hit the hardest on the day, slipping 2.40 percent and 1.93 percent, respectively.

The energy group slumped for a third straight session and lowest closing mark since mid-November, as crude oil and natural gas prices both retreated on the day. March futures of Brent crude oil in London fell 0.31 percent to close at 55.24 U.S. dollars a barrel, while March natural gas prices on the New York Mercantile Exchange slipped 3.87 percent o 3.228 U.S. dollars per million British thermal units.

Baytex Energy Corp., Encana Corporation, and Suncor Energy Inc., a trio of Calgary-based energy firms that among the top-15 most actively traded stocks on the day, saw respective losses of 4.95 percent, 2.81 percent and 1.65 percent.

The TSX IT group lost ground on the day as Blackberry shares fell 2.01 percent to close at 9.27 (7.07 U.S. dollars). Also contributing was a 1.76 percent decline in stock price of Montreal-based CGI Group, which closed at 63.13 Canadian dollars (48.12 U.S. dollars) a share.

Other groups that also fell by more than one percent on the day were Industrials (1.14 percent) and Utilities (1.09 percent).

Industrials was impacted by Bombardier shares being the fourth most actively traded stock on the day with more than 5.8 million shares exchanged. Ultimately, the stock price of the Montreal-based transportation manufacturer closed at 2.49 Canadian dollars (1.90 U.S. dollars), a 1.97 percent decline.

Also slipping in the Industrials group were Canada's two largest airlines. Shares of Air Canada finished 2.10 percent lower, while Calgary-based WestJet Airlines Ltd. lost 2.02 percent.

The remaining groups to finish Monday lower were: Materials (0.98 percent). Financials (0.76 percent), Consumer Discretionary (0.74 percent), Consumer Staples (0.61 percent), Telecommunications (0.45 percent), and Health Care (0.39 percent).

The Materials group, which is comprised of producers of gold, precious metals, and raw materials finished nearly one percent lower despite bullion prices finishing ahead on the day. The spot price for an ounce of gold closed at 1,195.30 U.S. dollars, a 0.34 percent increase from Friday. Other metals didn't trend in the same direction, as an ounce of silver fell 0.29 percent to 17.07 U.S. dollars and a pound of copper closed 0.87 percent lower to finish at 2.6423 U.S. dollars.

The most actively traded stock on the day was Vancouver-based gold producer New Gold Inc., who released their updated 2017 guidance that will see an increase in gold production during the year at a 19 to 25 percent increase in cost than the year prior. As a result of the news, shares plummeted 25.38 percent to 3.88 Canadian dollars (2.96 U.S. dollars).

Gold miners B2Gold Corp. and IAMGOLD Corporation were the next two most actively traded stocks on the day, gaining 0.77 percent and 0.68 percent, respectively. Copper miner Ivanhoe Mines Ltd. shares sank 4.32 percent to 3.99 Canadian dollars (3.04 U.S. dollars).

The Canadian dollar opened the week 0.13 cents higher to close at 0.7623 U.S. dollars..

[Editor: huaxia]
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