Canadian stock market falls after rising three days – Xinhua

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TORONTO, Aug. 25 (Xinhua) — Canada’s main stock index edged down as gains for a string of financial stocks were partly offset by a plunge in Tahoe Resources.

The Toronto Stock Exchange’s benchmark Standard & Poor’s/TSX Composite Index inched down 20.17 points, or 0.13 percent to closed the day at 15,055.99. Six of its 10 main groups fell.

Tahoe THO.TO ended down 18.7 percent to 5.58 Canadian dollars after hitting an all-time low as a Guatemalan court upheld the suspension of the license for its Escobal project, one of the world’s largest silver mines. The stock plummeted from around 11 Canadian dollars a share to seven Canadian dollars in early July when the mine was first closed.

Hudson’s Bay Co. surged 14.2 percent to 11.45 Canadian dollars after the department store operator is seeking to carry out a review of its strategic options amid pressure from an activist investor.

Construction company Aecon Group Inc jumped 20.2 percent to 17.24 Canadian dollars after it had engaged two financial advisers to explore a potential sale.

Pipeline companies weighed on the energy group, with Enbridge Inc down 1.5 percent at 50.40 Canadian dollars and TransCanada Corp off 0.8 percent to 62.89 Canadian dollars.

The Canadian dollar edged up 0.03 cents to 79.93 U.S. cents while oil prices picked up 19 cents to 47.62 U.S. dollars a barrel and gold prices rose 4.30 U.S. dollars to 1,296.30 U.S. dollars an ounce. Enditem

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