The mar­kets to­day

The Prince George Citizen - - SPORTS -

TORONTO (CP) — Weak­ness in oil and gas shares weighed on Canada’s largest stock in­dex Thurs­day as the loonie made a mi­nor ad­vance on the U.S. dol­lar. The Toronto Stock Ex­changes’s S&P/TSX com­pos­ite in­dex re­treated 58.20 points to 15,742.20, with the en­ergy sec­tor lead­ing de­clin­ers with losses of 1.65 per cent. The Novem­ber crude con­tract was down 70 cents to US$50.60 per bar­rel. “Any time oil crosses over the US$50 mark, you know that there are pro­duc­ers out there that are hedg­ing,” said Jil­lian Bryan, vi­cepres­i­dent at TD Wealth Pri­vate In­vest­ment Ad­vice. “That has the ef­fect of putting a lid on en­ergy prices so they don’t run even fur­ther. And we’ve ob­vi­ously had huge pro­duc­tion gains south of the bor­der with their pro­duc­tion at all time highs in the U.S. So the world is awash in en­ergy.” The U.S. En­ergy In­for­ma­tion Ad­min­is­tra­tion re­ported last week that U.S. crude ex­ports jumped to 1.98 mil­lion bar­rels per day, mark­ing the fourth weekly in­crease. South of the bor­der, stocks were lit­tle changed Thurs­day as weak­en­ing bank shares saw Wall Street slip into neg­a­tive ter­ri­tory. The Dow Jones in­dus­trial av­er­age gave back 31.88 points to 22,841.01. The S&P 500 in­dex inched down 4.31 points to 2,550.93 and the Nas­daq com­pos­ite in­dex dropped 12.04 points to 6,591.51. Else­where in com­modi­ties, the De­cem­ber gold con­tract ad­vanced $7.60 to US$1,296.50 an ounce.

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