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TSX Suffers Triple Digit Loss At Open Wednesday

Bay Street stocks suffered triple-digit loss at open Wednesday amid sell-offs in commodities, with the S&P/TSX Composite Index surrendering 108.48 points or 0.88 percent to 12,224.30.

The Diversified Materials Index lost nearly 2 percent, with First Quantum Minerals (FM.TO) shedding nearly 4 percent. Inmet Mining (IMN.TO) and Teck Resources (TCK_B.TO) were down around 2 percent each.

In the oil patch, Tourmaline Oil (TOU.TO) lost close to 3 percent, Cenovus Energy (CVE.TO) and Paramount Resources (POU.TO) slipped over 1 percent each.

Among gold plays, Allied Nevada Gold (ANV.TO) and Agnico-Eagle Mines (AEM.TO) moved down over 1 percent each.

Barrick Gold (ABX.TO) lost 1.50 percent after recording a marginal growth first-quarter net earnings, which came in below street estimates.

Meanwhile, MacDonald Dettwiler (MDA.TO) rose nearly 2 percent after reporting improved first-quarter net earnings.

by RTTNews Staff Writer

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