Broad-based decline in Canadian stocks amid tech and base metal losses
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TORONTO – On Monday, the Canadian stock market experienced a broad-based decline, led by losses in technology and base metal stocks. The S&P/TSX composite index fell nearly 130 points to close at 20,492.83.
The decline in the Canadian market coincided with a lackluster performance in U.S. stock markets, which ended essentially flat after losing steam midway through the trading day. The Dow Jones industrial average was up slightly by 6.06 points at 34,624.30 while the S&P 500 index was marginally higher by 3.21 points to 4,453.53. The Nasdaq composite also saw a minor increase of 1.90 points to stand at 13,710.24.
The Canadian dollar traded for 74.12 US cents compared with 73.93 US cents on Friday.
In commodities, the November crude contract was up by 56 cents at US$90.58 per barrel and the October natural gas contract increased by eight cents to US$2.73 per mmBTU. The December gold contract rose by US$7.20 to US$1,953.40 an ounce and the December copper contract was down two cents at US$3.78 a pound.
