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ATAHK reads from Xinhua News that Toronto Stock Exchange, Canada's main stock market, on Monday ended lower as China's imports data weighed on the prices of resources shares. For details, please refer to the following news from Xinhua News on September 8th:
Toronto Stock Exchange's benchmark S&P/TSX Composite Index lost 60.53 points, or 0.39 percent, to 15,509.39 points, with energy and mining shares leading the fall.
As an important equities market for the world's resources companies, Toronto Stock Exchange made a negative start this week as the latest falling imports data from China depressed resources shares including energy and mining stocks, which triggered investors' concern about the world's second largest economy's falling demand for the resources products.
According to China's General Administration of Customs released Monday, Chinese exports rose 9.4 percent in August from a year earlier, but imports dropped 2.4 percent.
The energy sector plunged 1.51 percent as light, sweet crude for October delivery moved down 0.63 U.S. dollar to settle at 92. 66 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery lost 0.62 U.S. dollar to close at 100.2 dollars a barrel.
And the mining sector, another resources group, gave back 0.53 percent over the gold price slump with the most active gold contract for December delivery tumbling 13 U.S. dollars, to settle at 1,254.3 dollars per ounce.
Most of Canadian energy giants lost ground in direct response, as Suncor Energy Inc. retreated 1.18 percent to 43.55 Canadian dollars (about 39.69 U.S. dollars) a share, and Canadian Natural Resources Ltd. plunged 1.74 percent to 44.72 Canadian dollars per share.
Meanwhile, S&P/TSX Global Gold Index dived 2.41 percent when Goldcorp Inc. shrank 1.64 percent to 27.54 Canadian dollars, and Barrick Gold Corp. declined 1.45 percent to 18.37 Canadian dollars.
On the economic front, Statistics Canada reported Monday that Canadian municipalities issued building permits were up 11.8 percent in July from June. The federal agency said the increase was mainly attributable to higher construction intentions for multi-family dwellings in Ontario and British Columbia as well as institutional buildings in Manitoba.
The Ontario-based investments trust Canadian Apartment Properties Real Estate added 0.25 percent to 24.26 Canadian dollars a share.
In other sectors, Telecom was down 0.6 percent and Utilities decreased 0.57 percent. However, Financials, the most heavily weighed sector in TSX, edged up 0.05 percent, while Industrials rose 0.46 percent.
On the currency front, the Canadian dollar on Monday fell to 0. 9113 U.S. dollar from 0.9190 U.S. dollar Friday, as the U.S. dollar strengthened while U.S. economy continues to gain steam.
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