The close: Energy stocks lead TSX lower [Toronto Globe and Mail (Ontario, Canada)]
ENCANA (ECA)
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Source: Toronto Globe and Mail
The close: Energy stocks lead TSX lower Canada’s main stock index declined for a third consecutive day on Thursday, as energy stocks fell with oil prices. The Toronto Stock Exchange’s S&P/TSX Composite index was unofficially down 42.23 points, or .26 per cent, at 16,89.24. Six of the index’s 11 major sectors were lower, led by a 1.5-per-cent drop by energy stocks. Story continues below advertisement Encana Corp. was down 5.5 per cent, while Arc Resources Ltd. and Baytex Energy Corp. were down 3.9 per cent and 3.5 per cent, respectively. Oil prices fell almost 4 per cent to their lowest in over two months on a smaller-than-expected decline in U.S. crude inventories and fears of a global economic slowdown due to the U.S.-China trade war. The Energy Information Administration (EIA) said U.S. crude stockpiles fell nearly 3, barrels last week, less than the 9,-barrel decline analysts forecast in a Reuters poll and well below the 5.3 million-barrel drawdown the American Petroleum Institute
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