TSX pulls back


The Toronto stock mar­ket was lower for a fourth ses­sion in a row Mon­day af­ter suf­fer­ing its big­gest loss in five months last week.

The S&P/TSX com­pos­ite in­dex de­clined by 69.96 points at 15,463.51 as the com­mod­i­ty­heavy mar­ket was dragged down by de­clin­ing gold and ma­te­ri­als stocks.

Gold was the big­gest weight on the mar­ket, as the sec­tor fell by five per cent with big min­ers like Bar­rick Gold (TSX:ABX) down three per cent and Ag­nico Ea­gle Mines los­ing nearly seven per cent. De­spite the down­ward pres­sure, bul­lion fin­ished in the pos­i­tive, as the April gold con­tract added 50 cents at US$1,258.80 an ounce.

In cor­po­rate news, Man­ulife Fi­nan­cial (TSX:MFC) con­firmed its bank­ing unit was pe­nal­ized by Canada’s mon­ey­laun­der­ing watch­dog, Fintrac, for what it de­scribes were “ad­min­is­tra­tive lapses.”

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