TORONTO – The Toronto stock exchange suffered another session of declines as oil closed below $50 for the first time in several months and the loonie tumbled to its lowest level in more than a decade.
The S&P/TSX composite index lost 69.12 points at 14,307.12, dragged down by weakness in both the energy and resource sectors.
Oil prices settled at the smallest level since April, dropping $1.67 to US$49.19 for the September contract. The most recent weekly figures from the U.S. government showed that oil supply inventories unexpectedly rose a week ago.
The August gas contract rose 1.5 cents at US$2.897 while August gold lost US$12 at $1,091.50.
Meanwhile, the Canadian dollar lost 0.53 of the cent to 76.70 cents US, closing in a level it hasn\’t reached since Sept. 1, 2004.
In the U.S., the Dow Jones industrial average dropped 68.25 points at 17,851.04, while the Nasdaq fell 36.35 suggests 5,171.77. The S&P 500 dipped 5.06 suggests 2,114.15.