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Canadian stock market drops as oil prices drop

Release Date:2018-10-24 17:18:24     Source:Xinhua     Author:Yamei

Canada's main stock index fell Tuesday as oil prices closed at a two-month low.

The Toronto Stock Exchange's benchmark Standard & Poor's/TSX Composite Index fell 127.53 points, or 0.83 percent, to close Tuesday at 15,285.17 points.

The Canadian dollar fell 0.04 cents to 0.7635 U.S. dollar.

On the market, 89 issues rose and 154 fell. There were one new high and 37 new lows, with a total volume of 346.2 million shares traded.

The energy group fell 4.18 points, or 2.38 percent, while the financials sector slipped 0.14 points, or 0.05 percent.

U.S. oil prices further dived 4.22 percent Tuesday as Saudi Arabia vowed to enhance oil production and U.S. stock markets sank on disappointing earnings reports.

Aurora Cannabis Inc plunged down 11.7 percent and Trican Well Service Ltd fell 7.6 percent while and Crescent Point Energy Corp dropped 7.2 percent.

Meanwhile, West Fraser Timber Co Ltd. jumped 6.5 percent and Alamos Gold Inc rose 6.1 percent, while B2Gold Corp climbed 3.8 percent.

 

Editor:Cherie

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