- Category: Economic
- Published Monday, January 18, 2016
- CTV News
TORONTO -- Canada's largest stock market continued to fall to multi-year lows and crude oil futures traded briefly below US$29 a barrel on Monday.
The Toronto Stock Exchange's S&P/TSX composite index was down 80.92 points at 11,992.54 after 90 minutes of trading. On Friday, the index dropped 262.57 or 2.13 per cent to 12,073.46 -- its lowest close since June 2013.
On the commodity markets, the February crude contract was down $2.05 at US$29.15 per barrel and had been as low as US$28.36. The February gold contract rose $15.30 to US$1,088.90 an ounce.
The Canadian dollar remained near the lowest levels in nearly 13 years but rose slightly to 68.85 cents US, up 0.03 from Friday's close. Earlier Monday, it traded as low as 68.57 cents US near levels last seen in 2003.
The major American markets were closed for the Martin Luther King holiday. The Dow Jones index futures were down 395.0 points at 15,886.0, S&P 500 futures declined 45.25 points to 1,869.25 and the Nasdaq futures lost 127.5 points to 4,130.0. Major markets in Asia and Europe were also down.
The TSX decline was broad-based, with grocery and food companies showing some of the biggest declines. Shares of George Weston (TSX:WN), its subsidiary Loblaw (TSX:L) and Metro Inc. (TSX:MRU) were down more than two per cent.