TORONTO, Aug 24 Canada’s main stock index fell on Wednesday as lower metal and oil prices weighed on resource stocks, offsetting gains for financials after Royal Bank of Canada reported better-than-expected earnings.
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Bank of Montreal BMO.TO rose 2.5 percent to C$86.50.
The October crude contract was up 42 cents at US$47.90 per barrel and September natural gas was up 3.5 cents at US$2.71 per mmBTU.
The Toronto Stock Exchange’s S&P/TSX composite index fell by 45.07 points at 14,719.70.
On Tuesday, the index had touched a one-week high at 14,796.56.
Royal Bank of Canada had EPS of $1.72, beating expectations of $1.70.
“The longer-term trend sure feels like it’s up at the moment”, he added.
Stock futures indicated a higher opening for Canada’s main stock index on Wednesday, a day after the index hit a one-week high.
Still, the materials group, which includes precious and base metals miners as well as fertilizer companies, fell 1.1 percent.
TransCanada Corp TRP.TO declined 0.7 percent to C$61.39, while Suncor Energy Inc SU.TO was down 0.7 percent at C$36.45.
Spot gold was little changed as markets shifted focus from hawkish comments by a Federal Reserve official over the weekend to a meeting of global central bankers this week, awaiting further guidance on USA interest rates.
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Energy stocks dipped 0.1 per cent as oil fell.
