TORONTO: Canadian stocks (TSX) fell a second day, headed for the lowest level in more than three weeks, as commodities plunged with crude prices extending a 5 ½ year low after Goldman Sachs Group Incorporation cut its price forecasts.
MEG Energy Corporation and Surge Energy Incorporation tumbled at least 12 per cent as energy prices slump the most in the Standard & Poor’s/TSX Composite Index (SPTSX).
Toronto Dominion Bank and National Bank of Canada dropped more than 1.9 per cent to pace declines among financial stocks. Amaya Incorporation jumped 5 per cent as the online gaming operator said it is considering proposals for one of its properties.
Further the S&P/TSX fell 257.84 points, or 1.8 per cent, to 14,127.08 in Toronto, headed for the lowest close since Dec. 16. The benchmark equity gauge has dropped 3.4 percent this year.
