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Principale » TSX rises with banks; Bombardier falls after tariff hit

TSX rises with banks; Bombardier falls after tariff hit

27 Septembre 2017

Canada's main stock index retreated on Tuesday from a four-month high hit in the previous session, as a drop in commodity prices weighed on the shares of oil and mining companies.

The November crude contract was down seven cents to US$51.81 per barrel and the November natural gas contract was up seven cents to US$3.07 per mmBTU.

Oil rallied after major producers said the global market was on track towards rebalancing, while Turkey threatened to cut oil flows from Iraq's Kurdish region. The heavily weighted financials group also helped offset losses, gaining 0.2 percent.

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At 10:28 a.m. ET (1428 GMT), the Toronto Stock Exchange'sS&P/TSX composite index was up 39.13 points, or 0.25 percent, at 15,513.25, with six of its 10 main groups in positive territory.

Bombardier was last down 11 percent at C$2.02 after opening at its lowest point since December 2016 following the U.S. Commerce Department's decision to slap preliminary anti-subsidy duties on its CSeries jets. Consumer staples shares were down 0.5 percent.

The materials sector which includes precious and base metals miners as well as fertilizer companies, were among the biggest drags on the index, losing 0.6 percent.

TSX rises with banks; Bombardier falls after tariff hit