AFTER THE BELL: Falling energy shares keeps TSX in check, oil drops to seven-week low
International rifts and the sliding price of crude oil kept North America’s stock markets in check today.
After a 134-point freefall on Tuesday, Canada’s main stock exchange managed to have a positive day, finishing 28 points higher at 16,315.
Led by financials, eight of 11 of the index’s major sectors saw gains.
But the main drag on Bay Street was the energy sector, which dropped by more than a percent with oil prices dipping to a seven-week low.
Oil fell $2.42 to $66.75 a barrel after China announced that it is slapping a 25-percent tariff on $16 billion worth of U.S. imports, including crude oil.
Meanwhile, diplomatic tensions between Canada and Saudi Arabia continue to escalate, with reports of Saudi Arabia selling off Canadian assets.
In the U.S., the Dow fluctuated throughout the day before ending 45 points lower to 25,583.
And the Nasdaq enjoyed a seventh winning day, finishing four points higher at 7,888.
The loonie edged up 20/100ths of a cent to 76.79 cents US while gold moved up $3.40 to $1,214 an ounce.