Canadian market goes down as financial and energy sectors retreat

By on May 17, 2017


Canada's main stock index closed lower Tuesday, reversing earlier gains as a retreat in financial and energy stocks dragged the market into negative territory. (Photo: Sandra Cohen-Rose and Colin Rose/Flickr)
Canada’s main stock index closed lower Tuesday, reversing earlier gains as a retreat in financial and energy stocks dragged the market into negative territory. (Photo: Sandra Cohen-Rose and Colin Rose/Flickr)

TORONTO—Canada’s main stock index closed lower Tuesday, reversing earlier gains as a retreat in financial and energy stocks dragged the market into negative territory.

The Toronto Stock Exchange’s S&P/TSX composite index fell 86.14 points to 15,543.33 due to losses from energy companies.

The June crude contract was down 19 cents at 48.66 U.S. dollars per barrel amid a report by the International Energy Agency that a potential extension of production cuts by OPEC may not be enough to bring down oil stockpiles.

The Canadian dollar was up 0.24 U.S. cent at an average value of 73.55 U.S. cents to one Canadian dollar.