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Energy and financials weigh on Toronto stocks, loonie down after BoC announcement

Energy and financials weigh on Toronto stocks, loonie down after BoC announcement
Business
TORONTO - Weakness in the heavyweight energy and financial sectors weighed on Canada’s main stock index in late-morning trading.

The S&P/TSX composite index was down 21.93 points at 16,647.47.

In New York, the Dow Jones industrial average was up 0.69 of a point at 26,657.08. The S&P 500 index was up 1.38 points at 2,935.06, while the Nasdaq composite was up 13.45 points at 8,134.27.

The Canadian dollar traded for 74.16 cents US compared with an average of 74.51 cents US on Tuesday following the Bank of Canada’s latest interest rate announcement. The central bank kept its key interest rate target on hold at 1.75 per cent, but it also dropped any mention of future rate hikes in its statement.

The June crude contract was down 44 cents at US$65.86 per barrel and the June natural gas contract was up 0.2 of a cent at US$2.50 per mmBTU.

The June gold contract was up US$2.70 at US$1,275.90 an ounce and the May copper contract was up 1.35 cents at US$2.91 a pound.
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