TSX, loonie decline in morning trading

TORONTO -- Canada's largest stock market was down this morning despite improvements in resource stocks.

The Toronto Stock Exchange's S&P/TSX composite index was down 48.02 points or about 0.4 per cent at 12,934.08, about two hours after trading began.

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The index's resource-focused sectors were up but about half of the subsectors were down, including consumer staples.

The Canadian dollar was at 74.35 cents US, down 0.2 from Tuesday's close.

In New York, the Dow Jones industrial average was up a marginal 1.71 points at 16,866.79.

The broader S&P 500 composite index advanced 1.02 points to 1,979.37 and the Nasdaq composite was down 2.59 points at 4,687.00.

The April crude contract was down 62 cents at US$33.78 per barrel and April natural gas was down nearly four cents at US$1.70 per mmBtu.

The April gold contract rose $8.70 to US$1,239.50 an ounce and May copper contracts gained two cents to US$2.17 a pound.



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