The limping economies of China, Japan and the Eurozone added to yet more weakness in the energy sector has dragged the TSX lower again today. China’s lower factory output and its reduced purchase of commodities, together with a credit rating downgrade for Japan saw Asian stocks end Monday mostly in the red. Europe’s three largest economies; Germany, France and Italy; also disappointed and meant a lower close there too. With oil hitting a new five-year low before recovering and commodities in lower demand the energy and materials sectors were destined for losses.
The S&P TSX Composite Index closed down 119.39 (0.81 per cent)
The NYSE closed lower
Oil is edging higher
Gold is slightly lower
The loonie is down against the US dollar