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TSX flat as energy, banks offset by materials, industrials

14 Septembre 2017

Copper prices were down 2.0 percent to $6,538 a tonne around mid-morning. Profit-taking, rising stocks in London Metal Exchange warehouses and nervousness about Chinese demand also contributed to lower copper prices.

The Toronto Stock Exchange's S&P/TSX composite index fell 3.58 points, or 0.02 percent, to 15,139.83.

"Energy is the one bright factor I'd say and then you have these two opposing forces with the metals and materials on the decline", said Kevin Headland, senior investment strategist at Manulife Investment.

In currency markets, the Canadian dollar was trading at an average price of 82.05 cents United States, down 0.19 of a USA cent.

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"The hurdle rate, or the barrier to success from last year's Q3, Q4 earnings is that much harder. this year", said Headland.

The influential financials group gained 0.2 percent, though most individual advances were modest. Fairfax Financial Holdings Ltd jumped 4.4 percent to C$626.86.

Industrials fell 0.6 percent, with Canadian Pacific Railway Ltd off 1.9 percent to C$192.20 a share after a price and ratings cut by National Bank of Canada.

The index had three issues posting a new 52-week high and none posting new lows.

TSX flat as energy, banks offset by materials, industrials