Last updated: March 22, 2018

TSX retreats from near 18-month high as bond yields rise

A man walks past an old Toronto Stock Exchange sign in TorontoBy Fergal Smith TORONTO (Reuters) – Canada's main stock index fell on Thursday, pulling back from an earlier near 18-month high as a jump in bond yields pressured defensive stocks, offsetting further gains for energy shares as oil rallied. The telecommunications group fell 1.3 percent, with BCE Inc down 1.5 percent at C$ 57.05, while consumer staples declined 1.7 percent as Alimentation Couche Tard Inc dropped 2.9 percent to C$ 60.19. Investors may be "beginning to think that there is a limit to how high the stock market can continue going up if bond rates also continue to go up," said Mathieu D'Anjou, senior economist at Desjardins Group.

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