Canada Stocks End Mixed after U.S. Rate Cut
Canadian stocks closed mixed after the U.S. Federal Reserve Bank met market expectations in cutting U.S. interest rates by 50 basis points to help rekindle economic growth. The TSE 300 fell 26.46 to 9321.90. The S&P/TSE 60 fell 1.93 to 554.84. Breadth was 787-502 positive. Gains in utility and mining-related sectors offset drops in financial services, oil and gas, industrial products and consumer products sectors. Government of Canada bonds finished higher. The March Canadian dollar settled higher at 66.78 cents vs. the U.S. dollar. March crude oil settled down $0.40 at $28.66. February gold settled up $0.50 at $265.60.
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