Precision, Iamgold in Focus
The TSX Composite tumbled 521.7 points, or 2.8%, to finish the week at 18,490.98. Over the last five sessions, the index lost its grip on 905 points, or 4.67%.
The Canadian dollar sank 0.63 cents to 73.59 cents U.S.
Energy stocks weighed heavily on the market, with Precision Drilling caving $8.02, or 10.5%, to $68.28, while Paramount Resources lost $2.73, or 10.5%, to $23.33.
Gold fell, as Iamgold handed back 15 cents, or 9.9%, to $1.37, while Seabridge Gold dipped $1.60, or 9.6%, to $15.13.
Among materials, Capstone Mining docked 31 cents, or 9.6%, to $2.92, while Lundin Mining lost 56 cents, or 8%, to $6.47.
On the economic slate, Statistics Canada reported retail trade decreased 2.5% to $61.3 billion in July, the first decline in seven months.
Sales were down in nine of 11 subsectors and were driven by lower sales at gasoline stations and … Read more