The Toronto Stock Exchange’s main index ended the week with losses as oil prices dropped. The price of crude fell as a Goldman Sachs estimate for prices was revised lower; down to $48.10 for 2015 from an earlier figure of $52; and down to $45 for 2016 from the earlier estimate of $57. The bank warned that lower figures were possible and that weakness in China and productions levels from the US and OPEC add to the global supply glut.
Wall Street ended broadly flat along with Asian indexes while European markets closed slightly lower. World markets are cautious ahead of the Fed’s monetary policy meeting and interest rate decision next week.
The S&P/TSX Composite Index closed down 108.4 (0.80 per cent)
The Dow Jones closed up 8.76 (0.45 per cent)
Oil is trending lower (Brent $48.12, WTI $44.79 at 4.20pm)
Gold is trending lower (1107.0 at 4.20pm)
The loonie is valued at U$0.7544