TORONTO: Canada’s main stock index dipped on Thursday, backing off the previous session’s record high as declining industrial and gold mining shares weighed, offsetting gains for the energy group.
At 10:34 a.m. ET (15:34 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 38.23 points, or 0.24 percent, to 16,164.9.
The industrials group fell 0.6 percent, with Waste Connections Inc declining 1.5 percent to C$88.47.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.5 percent as gold mining shares fell.
Eldorado Gold Corp declined 3.4 percent to C$1.73.
One of the biggest drags on the index was Brookfield Infrastructure Partners LP, which fell 2.8 percent to C$56.20 after rallying on Wednesday. Earlier in the week the company announced an agreement to sell its Chilean regulated transmission business for $1.3 billion.
The overall utilities group slipped 0.9 percent. It was one of six of the TSX’s 10 main groups that fell.
Energy shares rose 0.3 percent, supported by the recent rally in oil prices.
Oil prices stood near their highest in two and a half years, supported by strong data from top importer China amid thin trading activity ahead of the New Year weekend.
The largest percentage gainer on the TSX was Canopy Growth Co, which rose 6.5 percent, The stock was adding to gains it made on Wednesday after a ruling by regulators that boosted the shares of marijuana companies.
Open Text, rose 5.5 percent to C$44.07 after S&P Dow Jones Indices announced after the bell on Wednesday that the stock will be added to the S&P/TSX 60, 60 Capped and 60 Equal Weight Indices to replace Agrium Inc.
Declining issues outnumbered advancing ones on the TSX by 125 to 116, for a 1.08-to-1 ratio on the downside.
The index was posting 6 new 52-week highs and 1 new low.
Source: Brecorder.com
