CANADA STOCKS-TSX falls as lower metal and oil prices weigh

Wed Aug 24, 2016 10:35am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds details throughout on stocks and sectors, updates prices)

* TSX down 40.77 points, or 0.28 percent, to 14,724

* Four of the TSX's 10 main groups lower

TORONTO, Aug 24 (Reuters) - Canada's main stock index fell on Wednesday as lower metal and oil prices weighed on resource stocks, offsetting gains for financials after Royal Bank of Canada reported better-than-expected earnings.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 2.9 percent.

Copper prices fell to eight-week lows as rising inventories in Asian warehouses fueled fears about weaker demand to come in top consumer China, while spot gold fell 0.9 percent ahead of a speech by Federal Reserve Chair Janet Yellen on Friday which will be closely watched for further clues on U.S. interest rate policy.

Barrick Gold Corp fell 5.7 percent to C$24.46, while Silver Wheaton was down nearly 5 percent at C$34.99.

Energy stocks dipped 0.1 percent as oil fell.

U.S. crude prices were down 1.1 percent to $47.59 a barrel as data pointing to a potential build in domestic crude stockpiles offset speculation of an output freeze by major oil producers.   Continued...