Markets in Toronto came down from their dizzy heights of Wednesday and most of Thursday, and finished lower, mostly weighed by gold stocks.
The S&P/TSX Composite finished the day in negative territory 15.73 points to 14,744.18
The Canadian dollar dropped 0.31 cents, to 74.18 cents U.S.
Among gold stocks that took such body blows, Iamgold Corporation dipped 60 cents, or 10.4%, to $5.19, while Barrick Gold slumped $1.84, or 8%, to $21.22.
In the utilities sector, Fortis Inc. dropped $1.51, or 3.6%, to $41.05, while Hydro One collapsed $1.11, or 4.7%, to $22.75.
In the industrial sector, which enjoyed some success Thursday, Bombardier leaped 17 cents, or 9.5%, to $1.96, while Air Canada added 12 cents to $13.00.
Financials also did well Thursday, as Manulife Financial climbed $1.85, or 9.2%, to $21.94, while Sun Life jumped $4.55, or 9.8%, to $50.90.
On the economic slate, Statistics Canada’s new housing price index rose 0.2% in September compared with the previous month.
Prices rose in 11 census metropolitan areas, with the indexes from the combined region of Toronto and Oshawa and from Vancouver contributing the most to the monthly increase.
ON BAYSTREET
The TSX Venture Exchange fell behind 9.57 points to 743.63
All but three of the 12 TSX subgroups stayed red on the day, with gold dulling in price 6.9%, materials listing lower 3.8%, and utilities skidding 3%.
The three gainers were industrials, ahead 2.4%, financials, prospering 1.8%, and consumer discretionary stocks, up 0.4%.
ON WALLSTREET
U.S. equities closed mixed on Thursday as investors re-positioned their portfolios following the presidential election.
The Dow Jones Industrials skyrocketed 218.19 points, or 1.2%, to 18,807.88, on top of a 250-point-plus surge Wednesday. IBM gained 34 points and Goldman Sachs added 52 points to pace the rally.
Transports within the Dow hit a more-than-one-year high, led by Avis, which rose nearly 5%
The S&P 500 eked up 4.22 points at 2,167.48, with financials rising 3.7% to lead advancers.
The NASDAQ composite index fell 42.28 points to 5,208.80
Investors were also on the lookout for any updates on who would compose President-Elect Donald Trump's cabinet. Earlier on Thursday, media reported that Trump's advisers have floated the idea of naming Jamie Dimon as Treasury secretary.
On the data front, weekly jobless claims totaled 254,000, below the expected 260,000. Federal budget data for October is also due at 2 p.m. ET
Prices for the 10-year Treasury lost strength, hiking yields to 2.14% from Wednesday’s 2.08%. Treasury prices and yields move in opposite directions.
Oil prices skidded 92 cents to $44.35 U.S. a barrel
Gold prices dropped $17.30 to $1,256.20 U.S. an ounce.
Related Stories
