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Downward Tuesday for TSX

Baystreet.ca
Canada's main stock index moved solidly lower on Tuesday with losses led by industrials and energy companies, ...

Canada's main stock index moved solidly lower on Tuesday with losses led by industrials and energy companies, as oil prices fell and appetite for global stocks faltered.

The S&P/TSX Composite Index skidded 74.5 points, to greet noon at 15,167.38

The Canadian dollar retreated 0.13 cents to 79.36 cents U.S.

Among energy companies, Baytex Energy fell back in price 4%, while Crew Energy settled 3.7%, and Precision Drilling dipped 3.1%. They were the biggest decliners on the index.

NuVista Energy bucked the energy trend to rise 5%, the second-biggest gain on the index, after Eight Capital and Raymond James raised their target prices.

First Quantum Minerals was the biggest gainer, jumping almost 5% after Eight Capital and Raymond James raised their target prices, although Berenberg cut its target.

Copper futures rose 2.2% to $6,985 U.S. a tonne.

First Quantum and Whitecap Resources were the most actively traded stocks on the index. First Quantum ballooned $1.04, or 5.5%, to $19.81, while Whitecap declined 12 cents, or 1.5%, to $7.94.

ON BAYSTREET

The TSX Venture Exchange docked 0.74 points to 824.32

All but three of the 12 TSX subgroups were negative by midday, with consumer discretionary stocks down 1.1%, utilities off 0.9%, and energy diving 0.8%

The three gainers were health-care, up 0.3%, materials, up 0.2%, and information technology gaining 0.1%,

ON WALLSTREET

Stocks fell on Tuesday, giving back some of the sharp gains made in the previous session, as wild market swings continued to keep Wall Street on edge.

The Dow Jones industrial average declined 85.38 points to 24,515.89. American Express and General Electric were the biggest decliners on the Dow, falling 1.7% and 1.5%, respectively.

The S&P 500 lost 5.87 points to 2,650.13, with energy as the worst-performing sector.

The NASDAQ remained in the red 6.81 points to 6,975.15

In corporate news, Amazon is reportedly ramping up its medical supply business, sending shares of hospital suppliers lower. Cardinal Health, McKesson and Owens & Minor all fell at least 2.1%.

Elsewhere, shares of AmerisourceBergen soared more than 7% after the Wall Street Journal reported that Walgreens Boots Alliance has reached out to the company about a takeover.

The latest reading on the Consumer Price Index is scheduled for release Wednesday at 8:30 a.m. ET.

Prices for the benchmark 10-year Treasury note fell slightly, raising yields to 2.85% from Monday’s 2.86%. Treasury prices and yields move in opposite directions.

Oil prices retreated 32 cents a barrel to $58.97 U.S.

Gold prices added $4.10 to $1,330.50 U.S. an ounce.