Canada Stocks Take Two Days of Losses To 200 Pts; Index Now Negative For September

Last Updated: Friday, September 17, 2021 4:05 PM | MT Newswires

Just as it did yesterday when it lost more than 90 points, Canada's main stock market, the resources heavy Toronto Stock Exchange, moved in line with commodity prices on Friday in losing another near 111 points and falling back under the 20,500 level -- 400 points below all time record intraday highs hit earlier this month -- with oil little changed and gold lower.

This puts the Index in negative territory for September, after seven monthly gains. In terms of influential sectors, Energy was down near 1.3% and Financials down 1%. Industrials capped losses, being up near 0.5%

Of commodities, gold closed lower on Friday as the U.S. dollar and bond yields strengthened ahead of next week's Federal Reserve meeting. Gold for December delivery settled down $5.30 to US$1,751.40 per ounce.

Also, West Texas Intermediate crude oil settled lower as U.S oil production slowly returns to normal as Gulf of Mexico producers repair damage from Hurricane Ida and return platforms to normal operations. WTI crude for October delivery closed down $0.64 to US$71.97 per barre, Marketwatch reported. November Brent crude, the global benchmark, was last seen down $0.35 to US$75.32 while Western Canada Select was down $1.01 to US$59.51 per barrel.

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