Businessmen pass the Toronto Stock Exchange sign in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren/File Photo Acquire Licensing Rights
Dec 28 (Reuters) – Canada’s main stock index ended lower on Thursday, pressured by declining commodity prices that hurt energy and materials stocks.
The Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE) was down 86.53 points, or 0.41%, at 20,929.38.
The energy sector (.SPTTEN) shed 1.4%, hurt by a decline of over $2 in crude prices as concerns eased about shipping disruptions along the Red Sea route.
The materials sector (.GSPTTMT), which includes precious and base metals miners and fertilizer companies, fell 1.4% as gold prices eased and silver fell due to an uptick in the U.S. dollar.
“The global indices are continuing to lift higher… it’s not the same story for the TSX.”
Weighing on the energy index, Energy Fuels tumbled 7% to the bottom of TSX after the minerals company announced that the chief financial officer Tom Brock would step down.
Other gold stocks including Torex Gold (TXG.TO), Seabridge Gold (SEA.TO), and New Gold (NGD.TO) were among the top losers on the index.
Investors locked in profits from a rally ahead of year-end as Friday marks the last trading day of the year, with the TSX expected to post a yearly win.
Top gainer healthcare index (.GSPTTHC) added 2.7%, following an 8% jump in cannabis company Tilray Brand shares, extending gains from the previous session.
Reporting by Khushi Singh in Bengaluru and Nivedita Balu in Toronto; Editing by Ravi Prakash Kumar and Alistair Bell
