TSX falls despite higher crude oil prices as defensive stocks take hit

TORONTO – Canada’s main stock index closed lower midweek even though higher crude oil prices lifted the key energy sector.

The S&P/TSX composite index was down 59.06 points at 16,312.22.

In New York, the Dow Jones industrial average was down 11.40 points at 26,536.82. The S&P 500 index was down 3.60 points at 2,913,78, while the Nasdaq composite was up 25.25 points at 7,909.97.

The Canadian dollar traded for an average of 76.16 cents US compared with an average of 75.91 cents US on Tuesday.

The August crude contract was up US$1.55 at US$59.38 per barrel and the August natural gas contract was down 1.8 cents at US$2.27 per mmBTU.

The August gold contract was down US$3.30 at US$1,415.40 an ounce and the September copper contract was down 1.95 cents at US$2.72 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

Note to readers: This is a corrected story. An earlier version included the wrong TSX closing price.