By Nivedita Balu
(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 was down 86.53 points, or 0.41%, at 20,929.38.
The energy sector shed 1.4%, hurt by a decline of over $2 in crude prices as concerns eased about shipping disruptions along the Red Sea route. [O/R]
The materials sector, 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. [GOL/]
“There’s a greater sensitivity to commodity prices in Canada versus the United States. The TSX is underweight in information technology, communication, healthcare and consumer discretionary,” said Brandon Michael, senior investment analyst at ABC Funds.
“The global indices are continuing to lift higher… it’s not the same story for the TSX.”
Weighing on…
