TORONTO — Canada's main stock index closed lower Thursday as mining and telecom stocks weighed, while U.S. stocks were mixed. The S&P/TSX composite index closed down 22.07 points at 24,551.
TORONTO — Canada's main stock index closed lower Thursday as mining and telecom stocks weighed, while U.S. stocks were mixed.
Boudreau said disappointing news from mining giant Newmont Corp. pushed down both the stock and the wider gold sector. "Investors are realizing that the higher gold prices, the companies might have some trouble harvesting that, because it's tough for them to ramp up production while keeping costs lower."
On the Telecoms side, Rogers Communications Inc. closed down almost three per cent after announcing earnings and a deal to sell off some of its infrastructure to pay down debt. The positive economic news would normally lead to a sell-off in bonds, but that was tempered by higher odds of Kamala Harris winning the presidential election, said Boudreau.
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