TSX edges down to nearly two-month low as oil prices slide
EWC•Canada’s S&P/TSX Composite fell 0.1% to 35,460.27, its lowest close since July 31, as oil prices slid and investors assessed domestic GDP data.
1. Index falls as oil slides
The S&P/TSX Composite Index ended down 29.59 points, or 0.1%, at 35,460.27. The energy sector fell 1.3% as U.S. crude futures settled 3.5% lower at $89.38 a barrel, while financials declined 0.5%. Technology added 1.7% and materials rose 0.6%.
2. GDP and company news
Canada’s GDP was unchanged in July from June, matching expectations, and a preliminary estimate showed a 0.2% rise in August. National Bank of Canada Capital Markets economist Alexandra Ducharme said the data pointed to a “relatively solid” quarterly advance and was “likely easing some of the Bank of Canada’s concerns” about the economy’s ability to withstand trade tensions. Thomson Reuters shares fell 0.8% after a U.S. appeals court upheld a ruling for the company in its copyright dispute with Ross Intelligence.
