June 22 Markets Report

By The Canadian Press
June 22, 2016 - 5:18pm

Stock markets in Toronto and New York turned lower amid falling oil prices and uncertainty over the results of a referendum Thursday on whether Britain will remain in the European Union.

The S*P/TSX composite index was down 8.51 points at 14,003.81, with the energy sector leading decliners as oil and natural gas prices racked up losses.

A report that U-S energy stockpiles decreased by a smaller amount than analysts expected sent the August contract for benchmark North American crude oil down 72 cents to US$49.13 a barrel.

The oil-sensitive Canadian dollar also took a hit, down 0.17 of a cent at 77.89 cents U-S.

Elsewhere in commodities, July natural gas plunged nine cents to US$2.68 per mmBtu, while August gold fell $2.50 to US$1,270 a troy ounce and July copper added two cents to US$2.14 a pound.

New York markets fell ahead of the British vote, with the Dow Jones industrials fading 48.90 points at 17,780.83, while the broader S*P 500 lost 3.45 points to 2,085.45.

The Nasdaq composite dipped 10.44 points to 4,833.32.

Gas Prices Fuels Retail Sales Boost: Stats Can

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