Losses in energy sector weigh on TSX as oil divers, US also down



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The Canadian Press

Posted Friday, November 23, 2018 11:25 EST

Last Updated Friday, November 23, 2018 4:41 PM EST

TORONTO (Reuters) – A sharp drop in oil prices cascaded into the energy sector and the broader market to push US indices into the red.

The S & P / TSX index closed 80.85 points at 15,010.73, led by losses in the energy index, as oil hit its lowest price in more than a year.

On a trading day shortened in New York, the Dow Jones industrial average closed 178.74 points at 24.285.95. The S & P 500 index closed 17.37 points at 2.6432.56 while the Nasdaq closed 33.27 points at 6,938.98.

The Canadian dollar averaged 75.60 cents a dollar, down 0.13 cents on Thursday, as the fall in oil prices outpaced Statistics Canada's positive retail and inflation numbers.

The January crude oil contract ended at $ 4.21 at $ 50.42 a barrel and the natural gas contract in December ended at a drop of 12 cents to $ 4.36 per mmBTU.

The gold contract in December closed down $ 4.80 to $ 1.223.20 an ounce and the December copper contract closed at three cents to $ 2.77 a pound.

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