* TSX down 0.2% at 21,587.880
* Posts lowest closing level since March 5
* Materials sector declines 0.5%
* Primo Water shares gain after merger deal
June 17 (Reuters) – Canada’s main stock index fell to a
three-month low on Monday as its heavy weighting in resource
shares and low exposure to technology proved unattractive to
investors even as Wall Street extended its record-setting run.
The Toronto Stock Exchange’s S&P/TSX composite index
ended down 51.22 points, or 0.2%, at 21,587.88, its
lowest closing level since March 5.
In contrast, U.S. benchmark the S&P 500 notched an all-time
closing high, helped by its heavy weighting in high-flying
technology shares.
“The TSX, it’s just missing the ingredients,” said Barry
Schwartz, a portfolio manager at Baskin Financial Services. “We
just don’t have the right businesses for this type of economy.”
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