TSX hits 10-week low as mining shares fall
SPY•Canada’s S&P/TSX Composite fell 0.2% to 35,154.76, its lowest close since July 20, as metal mining shares lost ground. A pullback in bond yields helped limit the decline.
1. Mining shares weigh
The S&P/TSX Composite Index ended down 81.11 points, or 0.2%, at 35,154.76 on Thursday. The materials group fell 1.2%, and DPM Metals shares dropped 8.9% after a court ruling on a concession agreement in Bosnia and Herzegovina.
2. Sector performance
Industrials fell 0.9% and financials ended 0.3% lower, while technology rose 2% and energy gained 1.4%. U.S. crude oil futures settled 2.7% higher at $92.87 a barrel after a report said the United States was sending more troops and carriers to the Middle East.
3. Manufacturing slows
Canada’s manufacturing sector grew at its slowest pace in six months in September, with trade frictions and higher energy prices weighing on activity. The S&P Global Canada Manufacturing PMI fell to 51.5 from 53.0 in August.
