Toronto market ends lower as energy extends its losing streak
TSX ends down 0.1% at 23,003.09
Energy falls for seventh straight day
Oil settles at lowest since December 2021
Materials group gains 1.4%
Updates at market close
By Fergal Smith
Sept 10 (Reuters) -Canada's main stock index fell on Tuesday as a drop in oil prices weighed on energy shares, but the move was limited as Wall Street closed higher ahead of a key inflation report.
The S&P/TSX composite index .GSPTSE ended down 24.06 points, or 0.1%, at 23,003.09.
The decline was driven by "the big sell-off in the price of oil," said Colin Cieszynski, chief market strategist at SIA Wealth Management.
There are "fears of a slower economy, fears of a reduced demand for energy and we're seeing that show up in the oil price in particular and then that's dragging the stocks down with it," Cieszynski said.
U.S. crude oil futures settled at the lowest level since December 2021, falling 4.3% to $65.75 a barrel, as OPEC+ revised down its demand forecast for this year and 2025.
The energy sector was down 2.3%, its seventh straight day of declines, with Precision Drilling PD.TO falling 4.7% and Canadian Natural Resources CNQ.TO ending 3.5% lower.
Energy pipeline operator Enbridge ENB.TO has pulled employees from several offshore U.S. Gulf of Mexico platforms, the company told customers, as Tropical Storm Francine advanced toward a landfall in Louisiana. The company's shares were down nearly 1%.
Alimentation Couche-Tard ATD.TO shares also lost ground, falling 1.4%. The U.S. Federal Trade Commission has notified Seven & i 3382.T of its intention to investigate a potential takeover of the convenience store chain by Couche-Tard over antitrust concerns, a source familiar with the matter said.
The focus for many investors continued to be the U.S. inflation report for August, due on Wednesday, which could reinforce expectations the Federal Reserve would begin an interest rate cutting campaign later this month.
Technology added 0.8% and the materials group, which includes fertilizer companies and metal mining shares, was up 1.4% as the price of gold XAU= rose.
Reporting by Fergal Smith in Toronto and Nikhil Sharma in Bengaluru
Editing by Shreya Biswas and Matthew Lewis
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
