Canada's main stock index continued to fall on March 11, led by declines in financial and consumer stocks, as investors worried about the possibility of slowing economic growth.
The S&P/TSX index ( Canada 's main stock index, representing the volatility of the 250 largest and most liquid stocks listed), compiled by the Toronto Stock Exchange, fell 132.51 points, equivalent to 0.5%, to 24,248.20 points, the lowest closing level since October 31.
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| The S&P/TSX index fell 132.51 points, or 0.5%, to 24,248.20, its lowest close since October 31. Illustrative photo |
" The market is anticipating a slowdown in future economic growth and is adjusting valuations to reflect that," said Allan Small, senior investment advisor at Allan Small Financial Group.
The Bank of Canada has cut its benchmark interest rate by 2 percentage points since June to support the domestic economy. Investors expect the central bank to cut rates by another 0.25% on March 12.
Canada's consumer staples sector fell 2.8%, while shares of food retailer Empire Company Ltd. fell 3.4%. Consumer discretionary fell 1.8%, industrials fell 1.4% and the heavyweight financials sector fell 1.4%.
Shares of resource companies helped limit declines in the TSX index (a stock index that represents the volatility of stocks listed on the Toronto Stock Exchange, one of the largest exchanges in Canada).
Canada's materials sector, which includes fertilizer and metals mining companies, rose 2.7% as gold and copper prices rose sharply. Canada's energy sector rose 0.7% as oil prices rose 0.3% to $66.25 a barrel.
| The Bank of Canada has cut its benchmark interest rate by 2 percentage points since June to support the domestic economy. Investors expect the central bank to cut rates by another 0.25% on March 12. |
Source: https://congthuong.vn/chung-khoan-canada-lao-doc-377864.html
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