TSX closes down 31 points as tech slide offsets oil gains

The S&P/TSX composite index closed down 31.29 points, or 0.09 per cent, at 36,105.90 on Friday, Nov. 13, as a slide in technology stocks on Wall Street and weakness in base metals and banks outweighed gains in energy stocks, according to TMX Money. Yahoo Finance data showed a matching closing level.

The index opened at 36,212.83 and traded between a high of 36,260.32 and a low of 35,995.16, TMX Money data show. It was the second straight daily decline, after the composite fell 274.53 points on Thursday to 36,137.19. TMX Money put the index up 13.95 per cent for the year to date.

Technology weighed on sentiment in the United States. The Nasdaq composite fell 0.91 per cent, and Nvidia Corp. shares fell 2.47 per cent to US$162.08, according to Yahoo Finance, extending the pressure that has hung over chip stocks since the company announced the sudden departure of its chief executive this week.

Energy stocks were among the day’s bright spots. Canadian Natural Resources Ltd. (TSX:CNQ) rose 1.24 per cent to C$70.91, Suncor Energy Inc. (TSX:SU) rose 0.87 per cent to C$99.66 and Cenovus Energy Inc. (TSX:CVE) rose 0.68 per cent to C$41.49, according to Yahoo Finance. Crude oil edged up as well.

Miners and industrial names lost ground. First Quantum Minerals Ltd. (TSX:FM) fell 2.6 per cent to C$32.25, Teck Resources Ltd. (TSX:TECK.B) fell 1.56 per cent, Cameco Corp. (TSX:CCO) fell 1.53 per cent and Brookfield Corp. (TSX:BN) fell 1.5 per cent, Yahoo Finance data showed. Barrick Mining Corp. (TSX:ABX) fell 0.57 per cent, while Agnico Eagle Mines Ltd. (TSX:AEM) was little changed, up 0.05 per cent at C$254.40.

The big banks were mixed to slightly lower. Royal Bank of Canada (TSX:RY) fell 0.35 per cent, Bank of Nova Scotia (TSX:BNS) fell 0.28 per cent and Toronto-Dominion Bank (TSX:TD) fell 0.15 per cent, while Bank of Montreal (TSX:BMO) rose 0.13 per cent. Shopify Inc. (TSX:SHOP) rose 0.16 per cent to C$209.74, and Enbridge Inc. (TSX:ENB) fell 0.89 per cent, according to Yahoo Finance.

On Wall Street, the Dow Jones industrial average rose 50.46 points to 52,347.55, the S&P 500 fell 30.73 points to 7,561.67, and the Nasdaq composite fell 229.82 points to 25,136.27, according to Yahoo Finance. The Canadian dollar traded at about 70.1 cents US.

Earlier on Friday, our pre-market preview set out the day’s earnings and economic releases, and Thursday’s close story covers the previous session.

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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.