CANADA STOCKS-TSX falls as oil prices tumble [Reuters]
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Source: Reuters
CANADA STOCKS-TSX falls as oil prices tumble - Reuters 2 Min Read June 12 (Reuters) - Canada’s main stock index fell on Wednesday as crude prices dropped more than 2% on a weaker outlook for demand and a rise in U.S. crude inventories. The energy sector dropped 1.2%, the biggest percentage decliner, weighed down by losses in Encana Corp and Nuvista Energy. * Escalating trade tensions between the world’s largest economies also hurt sentiment, with U.S. President Donald Trump saying that he was holding up a trade deal with China and had no interest in moving ahead unless Beijing agrees to four or five major points. * Hopes that the U.S. Federal Reserve would take action to counter a slowdown triggered by the trade war have helped Canada’s main index rise 1% in June. * Canada runs a current account deficit and exports many commodities, including oil, so its economy could be hit by a slowdown in the global flow of trade or capital. * At 9:50 a.m. ET (13:50 GMT), the Toronto Stock Exchange
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