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TSX dips on real estate and financials while Wall Street mixed after holiday

The Toronto stock market underwent a small loss Tuesday, which was caused by declines in real estate and financial stocks, along with oil prices.

01.Jun.16 5:28 AM
By Anastasia Sutulova


TSX dips on real estate and financials while Wall Street mixed after holiday
While the July contract for North American benchmark crude fell by 23 cents and amounted to US$49.10 a barrel, the S&P/TSX composite index decreased by 20.89 points, to 14,065.78.

Crude prices have been increasing rapidly in recent weeks with global production slowing for various reasons, including the massive wildfires near Fort McMurray, Alta.

After dropping to as low as US$26.21 a barrel in February, West Texas Intermediate crude is now coming close to the US$50-a-barrel mark.

Meanwhile, the Canadian dollar, which is a commodity currency and depends on oil prices, was down for a third consecutive session. It declined by 0.34 of a U.S. cent and stopped at 76.28 cents US.

July prices for natural gas increased by 12 cents to US$2.29 per mmBtu, while August gold was up 80 cents at US$1,217.50 a troy ounce. July copper decreased by two cents to US$2.10 a pound.

Despite some positive reports on consumer spending as traders returned after the U.S. Memorial Day holiday, indexes were mixed in New York.

The Dow Jones Industrials was down 86.02 points at 17,787.20, while the S&P 500 shed 2.10 points to 2,096.96. The tech-heavy Nasdaq increased by 14.54 points and amounted to 4,948.05.

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