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TSX ends down 0.36% at 24,463.67
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For the week, the index loses 1.45%
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Real estate sector falls 0.9%
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Energy adds 1.39%; oil settles up 2.27%
(Updates at market close)
By Fergal Smith
Oct 25 (Reuters) - Canada's main stock index ended lower
for a fifth straight day on Friday, led by declines for the real
estate and consumer discretionary sectors, as investors turned
cautious ahead of a potentially volatile period for the market.
The Toronto Stock Exchange's S&P/TSX composite index
ended down 87.88 points, or 0.36%, at 24,463.67,
extending its pullback from last Friday's record high.
For the week, the TSX was down 1.45%. It was the first time
since April the index has fallen for five straight days.
Still, it was up 1.93% since the beginning of October.
"We had a really good start to the month," said Greg Taylor,
portfolio manager at Purpose Investments. "We pulled forward a
lot of good news and now people are bracing for some volatility
in the next few weeks."
Wall Street has been unsettled this week by a rapid rise in
U.S. bond yields, while uncertainty around the Nov. 5 U.S.
presidential election has also made investors cautious after
markets started pricing in a second Donald Trump administration
in recent weeks.
Canada's immigration reduction targets announced this week
will likely have an impact on the Bank of Canada's growth
forecast, Governor Tiff Macklem said, but cautioned the bank was
yet to analyze the numbers.
On Wednesday, the BoC cut interest rates by an unusually
large half a percentage point to support the economy.
The real estate and consumer discretionary sectors both fell
0.9% on Friday, while the materials group, which includes gold
mining shares, was down 0.72%.
Mali has accused Barrick Gold Corp ( GOLD ) of failing to
abide by commitments made in a recent agreement, charges the
Canadian miner denied after the market's close on Thursday.
Shares of Barrick ended 3.16% lower on Friday.
Energy was a bright spot, rising 1.39%, as oil futures
settled 2.27% higher at $71.78 a barrel.