Canadian Stocks Follow Global Markets South; Late Rebound for Energy Not Enough to Carry the Day
04/09/2012 04:25 PM ET
04:25 PM EDT, 04/09/2012 (MidnightTrader) -- Canadian stocks recouped some of their earlier declines with the S&P/TSX Composite index finishing Monday down just under 85 points, or about 0.7%, at 12,018.50. The S&P/TSX Venture Composite Index fell 32.39, or nearly 2.2% to 1,448.65.
Energy stocks rebounded late as crude oil futures climbed back from steep plunge following disappointing job growth in the United States during March. Gold stocks also helped limit the day's losses as trader bought bullion and precious-metal miners as the U.S. dollar slid in response to the March unemployment report.
But financial stocks, which make up about 35% of the overall market value of the TSX Composite, weighed on the index throughout the day.
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