Oil prices, economic concerns and profit-taking all conspired on Friday ending week with nearly all the major global indexes in negative territory. The Toronto Stock Exchange suffered as oil prices moved lower on news that OPEC’s March output had been higher, adding to the glut. By global standards the TSX has done well today though. Wall Street saw profit-taking with the Dow dropping 350 points before recovering some lost ground, though it still ended the day with a triple-digit loss. Asian shares were also lower, led by a weak finish from Wall Street on Thursday. Only China ended with gains, and even that was only on hope of further stimulus from Beijing. For Europe the Greek debt issue isn’t going anywhere soon and was a major factor in the major markets all ending the week sharply lower.
The S&P/TSX Composite Index closed down 26.22 (0.17 per cent)
The NYSE closed lower (Dow down 279.7)
Oil is trending lower (Brent $63.70, WTI $56.06 at 4.20pm)
Gold is trending higher
The loonie is valued at U$0.8179 (at 4.20pm)