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TSX drops more than 1% at midday trading, led by miners, energy producers

Canadian shares fell on Thursday, led by energy producers and miners. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 1.1% at 13,163.19 at 12:13 p.m. in Toronto. Three shares declined for every issue that advanced as nine out of ten share groups were in positive territory.

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Amaya (TSE:AYA) jumped 14% to $27.82 after the online gambling company received approval to operate its PokerStars and Full Tilt poker brands in New Jersey.

Canadian shares fell on Thursday, led by energy producers and miners. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 1.1% at 13,163.19 at 12:13 p.m. in Toronto.

Three shares declined for every issue that advanced as nine out of ten share groups were in positive territory.

Amaya (TSE:AYA) jumped 14% to $27.82 after the online gambling company received approval to operate its PokerStars and Full Tilt poker brands in New Jersey.

The materials sub-index, which includes mining shares, was the largest laggard with a 2.4% drop even as gold recovered from two-week lows.

Goldcorp (TSE:G), Canada’s largest gold miner by market value, slipped 1.5% to C$16.48. Barrick Gold (TSE:ABX), Canada’s second-largest gold miner, retreated 1.9% to C$8.33.

U.S. gold futures for December delivery were up $1.30 an ounce at $1,116.50. Financials, the index's most heavily weighted sector, slipped 0.6%. Royal Bank of Canada (TSE:RY), which has the heaviest weighting in the index, fell 0.7% to C$73.30. Toronto-Dominion Bank (TSE:TD), the second-largest bank by market value, dropped 0.3% to C$52.47.

The energy sector, the main index's second most heavily weighted group, dropped 0.4% as oil prices were mixed on Thursday.

Suncor Energy (TSE:SU), Canada's largest oil sands producer, rose 0.3% to C$35.81. Enbridge (TSE:ENB), Canada's largest pipeline company, slid 0.1% to C$49.51.

U.S. West Texas Intermediate crude was up 26 cents at $45.35.  Brent crude the global benchmark for oil, was down 14 cents at $48.23 a barrel.

 

 

 

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