Fi­nan­cial stocks help pull TSX lower

Cape Breton Post - - Business -

TORONTO — Fi­nan­cial stocks were a drag on Canada’s main stock in­dex in morn­ing trad­ing Wed­nes­day.

The Toronto Stock Ex­change’s S&P/TSX com­pos­ite in­dex was down 86.40 points to 15,390.54 af­ter 90 min­utes of trad­ing.

Most of the mar­ket’s subindexes were down, with Bank of Mon­treal, Home Cap­i­tal Group and Sun Life Fi­nan­cial among the weak spots. In New York, the Dow Jones in­dus­trial av­er­age gained 13.12 points to 20,951.03, the S&P 500 in­dex added 0.30 of a point to 2,398.72, and the Nas­daq com­pos­ite in­dex was up 4.24 points to 6,142.96.

The Cana­dian dol­lar was trad­ing at 74.38 cents US, up from Tues­day’s av­er­age price of 74.13 cents US.

The loonie had been be­low 74 cents US prior to the Bank of Canada’s mid-morn­ing an­nounce­ment that it was hold­ing its key in­ter­est rate at 0.5 per cent, as ex­pected.

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