TSX sheds 146 points as oil plunges to five-month low

TORONTO -- The Toronto stock market lost nearly one per cent today, as oil prices plunged to a five-month low.

The S&P/TSX composite index retreated 146.44 points to 15,396.70, with energy, metals and materials stocks being the biggest decliners.

The steep drop came amid a report that OPEC members will not slash their output levels any further.

The June crude contract dropped $2.30 at US$45.52 per barrel, its lowest level since November.

The lower oil brought down the Canadian dollar, which fell 0.16 of a U.S. cent to an average value of 72.76 cents US.

Other commodities were also negative, with the June natural gas contract down four cents at US$3.19 per mmBTU, the June gold contract falling $19.90 at US$1,228.60 an ounce, and the July copper contract losing three cents at US$2.51 a pound.

In New York, stock markets were flat as the Dow Jones industrial average fell 6.43 points to 20,951.47. The S&P 500 index inched ahead 1.39 points to 2,389.52 and the Nasdaq composite index gained 2.79 points to 6,075.34.

Let's block ads! (Why?)

Bagikan Berita Ini