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Toronto stock index down as shares of cannabis producers decline

June 8, 2018 3:43 PM
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Canada’s main stock index is down moderately, with shares of two cannabis producers among the biggest losers.

The Toronto Stock Exchange’s S&P/TSX composite index was down 38.56 points to 16,154.22, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 5.69 points to 25,235.72. The S&P 500 index was down 2.32 points to 2,768.05 and the Nasdaq composite index was down 20.01 points to 7,615.06.

The Canadian dollar was trading at 77.12 cents U.S., up from Thursday’s average value of 77.09 cents U.S.

The July crude contract was up seven cents to $66.02 (U.S.) per barrel and the July natural gas contract was down four cents to $2.89 per mmBTU.

The August gold contract was down 50 cents to $1,302.50 an ounce and the July copper contract was up three cents to $3.30 a pound.

Among the declining stocks at the Toronto Stock Exchange were Canopy Growth Corp. and Aphria Inc., two producers of medical marijuana that want to move into the larger market for recreational products after Canada passes a law to legalize use of the drug.

Late Thursday, Canada’s unelected senate sent the Trudeau government’s Bill C-45 back to the House of Commons with dozens of proposed amendments that could delay passage of the law.

Also read: North American stock slide lower, loonie trades down against U.S. dollar

Source: thestar.com

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