2 Min Read
* TSX down 0.39 percent at 11,626.85
* Nine of 10 sectors lower after FOMC minutes
* Fed speaks of more easing if outlook worsens (Updates with reaction after FOMC minutes)
TORONTO, July 14 (Reuters) - Toronto's main stock index turned lower on Wednesday afternoon after minutes from the U.S. Federal Reserve showed it was concerned about slowing U.S. economic growth and felt it should stand ready to consider additional steps to boost it.
Minutes of the U.S. central bank's June 22-23 meeting came on the heels of disappointing U.S. retail sales figures, shifting the balance of sentiment into negative territory. [ID:nN14122226] [ID:nN14148574]
"A lot of noise is in the marketplace. You just sort of have to work through. Ultimately it's going to be day-by-day on how the market reacts to any kind of news," said Brian Pow, vice president, research and equity analyst at Acumen Capital Partners, in Calgary.
At 2:45 p.m. (1845 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 45.99 points, or 0.39 percent, at 11,626.85. Nine of its 10 sectors were lower, including the energy group, down 0.75 percent.
U.S. crude oil futures, which have had a volatile session, turned negative Wednesday afternoon after the minutes, settling near $77 a barrel. [O/R]
The index's hefty financial group, often a play on the broader economy, was 0.31 percent lower, with Royal Bank of Canada (RY.TO) down 0.4 percent at C$54.67 and Toronto Dominion Bank (TD.TO) off 0.43 percent to C$72.24. But Bank of Montreal (BMO.TO) bucked the trend, rising 0.5 percent to C$61.38.
$1=$1.03 Canadian Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson