TORONTO Kris Bryant Cubs Jersey , July 22 (Xinhua) -- Canada's main stock market in Toronto on Wednesday continued falling for a third straight day this week when the sluggish prices of commodities including oil and gold weighed on the trading market.
Toronto Stock Exchange's benchmark Standard & Poor'sTSX Composite Index was down 69.12 points, or 0.48 percent, to 14,307. 12 points, the lowest settlement level in the two weeks.
Resources shares, which have been on a downward slide for the first half year due to the weakness of the commodities market, led the decline in the eight most weighed sectors in TSX Wednesday, with the mining sector going down 2.3 percent and the energy sector losing 1.12 percent.
And the market dropped sharply in the opening trading following the negative impact of the slump in oil and gold prices Wednesday.
On the New York Mercantile Exchange, oil prices plunged as the Light Sweet Crude Oil (WTI) for September delivery moved down 1.67 U.S. dollars to settle at 49.19 U.S. dollars a barrel, as government data showed U.S. crude inventories climbed last week.
Meanwhile, gold futures plunged to a five-year-low Wednesday as the U.S. dollar strengthened, with the most active gold contract for August delivery diving 12 U.S. dollars, or 1.09 percent, to settle at 1,091.50 dollars per ounce.
Resources shares in TSX as a whole tumbled sharply when the energy company Canadian Natural Resources shrank 2.2 percent to 31. 06 Canadian dollars (about 23.82 U.S. dollars) and the world's biggest gold miner Barrick Gold gave back 0.93 percent to 9.59 Canadian dollars per share.
Besides, the basic metals producers suffered more losses in the mining sector when First Quantum Minerals Ltd. dived 4.43 percent to 13.37 Canadian dollars, and Teck Resources Ltd. lost 2.53 percent to 10.41 Canadian dollars a share.
Other losers included the most weighed sector Financials, down 0.38 percent, and Telecom, lower 1.22 percent.
By contrast, Industrials and Health Care closed higher modestly by 0.76 percent and 0.36 percent, respectively.
Investors were focusing on the withering oil industry and its impact on the Canadian economy, as the falling oil prices have been trimming the profits of oil companies.
Production of oil sands, a major component of crude reserve in Canada, is expected to grow 800,000 barrels per day from 2015 to 2020, nearly 300,000 barrels per day less than prior forecast, as lower oil prices slow development of some projects, according to a report released Wednesday by IHS, a think tank headquartered in Englewood, the U.S. state of Colorado.
On the currency front, the Canadian dollar hit the lowest level in more than a decade, trading at 0.7670 U.S. dollar Wednesday, compared with 0.7723 U.S. dollar Tuesday, following the weakness both in oil and gold prices.
Xisca Perello (inset), Rafael Nadal’s girlfriend, watches as the Spaniard shows off the Monte Carlo Masters trophy after beating France’s Gael Monfils in the final in Monaco on Sunday. Nadal has now won the Monte Carlo title for a record ninth time. — AFP
RAFAEL Nadal stays at world No. 5 in the latest ATP rankings released yesterday, but cuts the gap to the top four after claiming his ninth Monte Carlo Masters title on Sunday.
Jo-Wilfried Tsonga jumps up two places to seventh thanks to his run to the semis in Monaco, while his fellow Frenchman Gael Monfils is also up a couple of spots after reaching the final.
Novak Djokovic remains well clear of Andy Murray at the top despite his surprising early exit in the first major clay-court event of the year.
Fresh from claiming his first title in nearly two years, Nadal can now tie Guillermo Vilas’s record of 49 clay-court titles at the Barcelona Open this week.
Nadal has won the title eight times. “I had a tough season in the last few years, but I’ve had better preparation this year, even with a tough start to the season,” said Nadal after lifting his 28th Masters title.
“I hope it helps my season with confidence for the next few tournaments. I’ve been able to play well for two events in a row — Indian Wells and here (Monaco) — winning against very tough opponents so that is very good for my confidence.”
Enigmatic Italian Fognini has been a thorn in Nadal’s side in the past two years as he has twice defeated the Spaniard on clay and came from two sets down to beat the 14-time grand slam champion at the US Open last September. The two could meet again in the quarterfinals as Nadal has been handed a tricky draw with compatriot David Ferrer also potentially awaiting in the semis.
On Sunday, the king of clay went for two and three-quarter hours before beating Frenchman Gael Monfils 7-5, 5-7, 6-0 in a morale-boosting victory of massive proportions.
“Winning nine times here is something unbelievable for me. Outside of that, that is something so special. Compete well two weeks in a row is something so positive,” Nadal said.
After last lifting a title in the Principality in 2012 and then losing a 2013 final to Novak Djokovic, Nadal was overjoyed with his latest success, his 68th title as he played in his 100th career final.
“I’ve been a couple of time without winning big, big tournaments, I’m enjoying this moment. I’ve worked hard to have this trophy with me. I am enjoying this moment.”