CANADA STOCKS-TSX falls on yuan weakness, global demand worries

Wed Aug 12, 2015 5:19pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds analyst comment, updates prices to close)

* TSX ends down 75.14 points, or 0.52 percent, at 14,339.53

* Seven of the TSX's 10 main groups fell

By Alastair Sharp

TORONTO, Aug 12 (Reuters) - Canada's main stock index fell on Wednesday as China's currency weakened further, but pared its sharpest losses as oil prices bounced off six-year lows.

Losses were heaviest among banks, fertilizer producers and some energy stocks.

Crude oil prices rose following Tuesday's rout, while base metals sank to six-year lows on worries demand from China, the world's top metals buyer, would wane.

The resource-heavy Toronto market has been hit hard by negative global sentiment that has battered commodity prices.

The latest monetary move in China, which the People's Bank of China says should mean the yuan better reflects market prices, is likely to maintain the pressure.   Continued...