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TSX drops, Wall Street flat as oil, Canadian dollar steadies
The Canadian dollar and US stock market futures were positive early Monday.
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The most influential movers on the index included some of its biggest banks, with Royal Bank of Canada rising 0.9 percent to C$74.89 and Toronto-Dominion Bank advancing 0.6 percent to C$55.05. The overall financial services sector fell 0.04 percent.
Oil prices rose, underpinned by an unexpected fall in US crude inventories, but they were still close to multi-year lows as supplies remained abundant and as OPEC lowered the demand outlook for its exports.
The TSX/S&P composite index gained 14.37 points to 13,024.30, after plummeting 156.15 points the previous day as commodities took a beating and investors digested the interest rate hike south of the border. In New York, the S&P 500 index of US stocks was up 6.7 points to 2,027. Oando Energy Resources recorded 268.42 percent rise.
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Advancers outnumbered decliners by 146 to 88, a 1.66-to-1 ratio on the upside.