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Lower commodities weigh on Canadian market

26 Oct News | Comments

SAN FRANCISCO (MarketWatch) — Weak resource futures pressured the Canadian market Tuesday, dragging Toronto’s main stock index into negative territory. The S&P/TSX Composite Index fell 18.1 points, or 0.1%, to 12,645.5. Canada’s diversified metals and mining sector led the broader market into the red, fueled by a 1.5% drop in Ivanhoe Mines Ltd. shares and a 0.8% drop in Teck Resources Limited . Teck reports its third-quarter earnings results Tuesday after the market’s close. Canada’s resource-heavy market felt the burn after gold futures retreated 0.7% and copper futures dropped 0.2%. Among other notable decliners, shares of Canada’s Suncor Energy Inc. fell 0.6%.

 

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