TSX Wavers as Wall Street Drags its Feet

The S&P/TSX Composite Index (INDEXTSI:OSPTX) fell on Thursday (April 19), dropping 75.55 points to land at 15,454.42.

Friday (April 20) the index saw small growth towards the green as it reached 15,480.38.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) experienced a minor setback on Thursday as it dropped 0.5 points to close at 802.1. The index inched forward on Friday, as it gained 0.02 points to reach 802.12.

As nine of the index’s 10 primary groups ended in the red on Thursday, it was a struggle across the board. Consumer discretionary stocks dropped 0.7 percent, as Magna International (TSX:MG) dropped 2.1 percent and Corus Entertainment (TSX:CJR.B) fell 3.3 percent.

Only energy sector brought gains to the table, as Crescent Point Energy (TSX:CPG) was up 2.3 percent and Canadian Natural Resources (TSX:CNQ) grew 2 percent.

The Dow Jones Industrial Average (INDEXDJX:.DJI) fell 83.18 points at Thursday’s close, capping the day at 24,664.89. It took a tumble on Friday, falling 186.58 points to land at 24,478.31.

The S&P 500 (INDEXSP:.INX) stumbled backwards into the red, ending the day with a 15.51-point loss at 2,693.13. Friday saw the index drop 20.1 points to hit 2,673.03.

A 3.14-percent drop in consumer staples and a 1.13-percent drop in tech stocks dragged down Wall Street on Thursday. Procter and Gamble (NYSE:PG) provided the Dow Jones’ biggest loss as the company fell 3.3 percent. Meanwhile, Philip Morris (NYSE:PM), the tobacco company behind Marlboro, tumbled 15.6 percent after disappointing earnings results, bringing the S&P 500 index down with it.

Note: All numbers shown above were accurate as of 12:00 p.m. EST.

Daily metals

Gold simmered down by Thursday’s close when it reached US$1,348.80 per ounce. It continued to slide on Friday as it hit US$1,340.40. Silver cooled off by Thursday’s end as it hit US$17.24 per ounce. Friday saw the precious metal take a small trip and hit US$17.20.

Copper stabilized on Thursday when it closed at US$3.15 per pound. It maintained its stance on Friday as it stayed at US$3.15.

Major miner news

• Centerra Gold (TSX:CG): The company came to an agreement with the government of the Kyrgyz Republic to extend its first longstop date under the Strategic Agreement for Environmental Protection and Investment Promotion. The first longstop date is described as “the date by which all conditions precedent to the completion of the Strategic Agreement are required to be satisfied.” Centerra operates its Kumtor mine in the Kyrgyz Republic.

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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.