Energy stocks weigh on stock market after appeal court Trans Mountain ruling

Energy stocks weigh on stock market after appeal court Trans Mountain ruling

TORONTO — Energy stocks weighed on Canada’s main stock index in the wake of a Federal Court of Appeal decision to quash the approval of the contentious Trans Mountain pipeline expansion.

The S&P/TSX composite index was down 0.57 of a point at 16,389.72 with the energy sector off 0.82 per cent.

In New York, the Dow Jones industrial average was down 64.08 points at 26,060.49. The S&P 500 index was down 2.79 points at 2,911.25, while the Nasdaq composite was up 6.70 points at 8,116.39.

The Canadian dollar traded lower at 77.08 cents US compared with an average of 77.33 cents US on Wednesday.

The October crude contract was up 31 cents at US$69.82 per barrel and the October natural gas contract was down 0.2 of a cent at US$2.86 per mmBTU.

The December gold contract was down US$5.30 at US$1,206.20 an ounce and the December copper contract was down 2.95 cents at US$2.71 a pound.

The Canadian Press

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