TSX drops as oil prices fall after OPEC comments

TSX drops as oil prices fall after OPEC comments

TSX drops as oil prices fall after OPEC comments The Toronto Stock Exchange ended Thursday lower after investors weighed the Fed’s tone on interest rates and the Kuwaiti oil minister sent crude prices downwards. The OPEC member said that there was no way the group would be cutting production as they wanted to maintain market share, although he did say they would be open to talking about an agreement with non-OPEC producers. Energy and financials were among those declining today. Asian and European markets closed mixed earlier.

The S&P/TSX Composite Index closed down 88.31 (0.59 per cent)

The NYSE closed lower (Nasdaq was up though)

Oil is trending lower (Brent $54.36, WTI $43.65 at 4.20pm)

Gold is trending higher

The loonie is valued at U$0.7849 (at 4.20pm)