Stocks in Canada’s largest centre fell Thursday as commodity prices fell on concerns over demand.
The S&P/TSX Composite Index dropped 63.52 points to open Thursday trading at 13,293.94
The Canadian dollar settled 0.25 cents to 76.15 cents U.S.
NBF raised the rating on Rogers Communications to outperform from sector perform.
Rogers shares climbed 29 cents to $50.056.
National Bank Financial cut the rating on Telus Corporation to sector perform from outperform. Telus shares moved backwards 59 cents to $41.37.
Davidson raised the price target on Domtar Corp. to $42.00, with neutral rating.
Domtar gained 45 cents a share to $52.87.
On the economic front, Statistics Canada reported building permits for February grew to $7.4 billion in February, up 15.5% from January.
The agency says this growth followed a 9.5% decline the previous month and was largely the result of higher construction intentions for commercial buildings in Alberta, single-family dwellings in Ontario and institutional structures in Quebec
ON BAYSTREET
The TSX Venture Exchange strengthened 3.96 points to 587.38
Nine of the 13 TSX subgroups were lower, with metals and mining stocks down 4%, information technology off 1.5%, and financials fading 0.9%.
The three gainers were gold, up 3%, materials, up 1.1%, and health-care, ahead 0.9%.
ON WALLSTREET
U.S. stocks traded lower Thursday as traders remained concerned about global growth and the effectiveness of central bank policy.
The Dow Jones Industrials erased Wednesday gains and retreated 138.48 points to 17,577.57, with Goldman Sachs contributing the most to declines.
The S&P 500 subtracted 9.06 points to 2,057.60, with industrials lagging.
The NASDAQ index lost 44.22 points to 4,867.50
Stateside, weekly jobless claims came in at 267,000. Consumer credit numbers are due in the afternoon.
Prices for the 10-year Treasury gained, lowering yields back to 1.71% from Wednesday’s 1.75%. Treasury prices and yields move in opposite directions.
Oil prices sagged 28 cents a barrel to $37.47 U.S.
Gold prices leaped $19.75 to $1,242.22 U.S. an ounce.
Related Stories
