Canada Stocks Lost More Than 90 Pts Amid Commodity Price Weakness

Last Updated: Thursday, September 16, 2021 4:05 PM | MT Newswires

Canada's main stock market, the resources heavy Toronto Stock Exchange, continues to largely move in line with commodity prices, losing more than 90 points and falling back to near the 20,600 level on Thursday -- 300 points below all time record intraday highs hit earlier this month -- with oil little changed and gold lower.

Reflecting the lower commodity prices, among sectors, Materials was down 2.9% and took about 70 points off the table. And Energy was down 0.55%. Financials helped to cap losses in rising 0.2%.

Of commodities, gold prices fell to the lowest in a month on Thursday, pushed down nearly 2% after the U.S. dollar climbed following a better than expected rise in U.S. retail sales last month and bond prices fell. Gold for December delivery settled down $38.10 to US$1,756.70 per ounce, the lowest since Aug.12.

West Texas Intermediate crude oil settled unchanged after a day-prior rise to the highest this month following a big drop in U.S. inventories and amid continuing supply disruptions in the Gulf of Mexico. WTI crude for October delivery closed unchanged at US$72.61 per barrel, Marketwatch reported. November Brent crude oil, the global benchmark, was last seen up $0.24 to US$75.70 while Western Canada Select was up $0.14 to US$60.63 per barrel.

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