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TSX falls on energy, loonie lower after Bank of Canada rate announcement

TORONTO — The Toronto stock index dipped into the red as plunging oil prices outweighed gains in financials, while the loonie fell nearly half a cent following the Bank of Canada's latest decision to keep interest rates on hold.

The S&P/TSX composite index was down 6.90 points to 15,908.70. Gains by several of Canada's biggest banks weren't enough to compensate for a nose-diving energy sector, which was down more than two per cent.

In New York, the Dow Jones industrial average fell 39.73 points to 24,140.91. The S&P 500 index was down 0.30 of a point to 2,629.27 and the Nasdaq composite index was up 14.17 points to 6,776.38.

The Canadian dollar was trading at an average price of 78.39 cents US, down 0.47 of a U.S. cent.

In commodities, the January crude contract tumbled US$1.66 cents to US$55.96 per barrel and the January natural gas contract was up one cent at US$2.92 per mmBTU.

The February gold contract added US$1.20 to US$1,266.10 an ounce and the March copper contract was up two cents to US$2.96 a pound.

 

 

The Canadian Press