TSX closes at five-week low as energy, BlackBerry slump
BlackBerry shed 7.4 percent to end at C\\$12.44, and the energy sector dropped 2.4 percent on continued weakness in crude prices on concerns about oversupply.
The Toronto Stock Exchange's S&P/TSX composite index settled down 98.01 points, or 0.66 percent, at 14,854.49, its weakest level since Feb. 2. Six of the 10 main sectors on the index were in the red.
Monday's decline in Canadian stocks followed a selloff on Friday, when a robust U.S. jobs report stoked concerns that the U.S. Federal Reserve might raise interest rates sooner than expected.
"The market is going through a pause. It's likely that oil could go lower one level from here," said Douglas Davis, vice chairman at Davis-Rea.
He added, however, that he was positive on the energy sector over the long term.
Among shares of energy producers, Suncor Energy Inc fell 2.6 percent to C\\$35.95, and Canadian Natural Resources Ltd dipped 2.2 percent to C\\$36.66.
Materials stocks, which include the mining sector, fell 1.5 percent.
Barrick Gold Corp shed 4.7 percent to end at C\\$13.59. The price of gold traded near the three-month low it hit on Friday after the U.S. jobs data.
Комментарии