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TSX Slides A Second Session -- Canadian Commentary

Canadian stocks fell for a second session in a row Wednesday, with losses particularly pronounced in the gold sector.

Energy stocks also fell, as crude oil prices plummeted. May WTI oil was down $1.97, or 3.8%, to settle at $50.44/bbl, the lowest since April 12.

The U.S. Energy Information Administration reported that crude oil stockpiles slipped 1 million barrels, but gasoline supplies rose for the first time since February.

The TSX Composite lost 69.69 points, or 0.45 percent, to 15,552.88.

A judge has granted an injunction to prevent Metrolinx from cancelling a $770-million light rail contract with Bombardier Transportation (BBD.B.TO).

Bombardier dropped 3 percent.

Rogers Communications Inc. (RCI.TO) released a profit for its first quarter that climbed 34% from last year. Shares rose 1.5%.

CP Rail (CP.TO) reported earnings per share of $2.50 versus expectations for $2.49. The stock was down fractionally.

Brookfield Business Partners will acquire 100 percent of Loblaw's (L.TO) gas station operations for C$540 million. Shares slipped 0.6 percent.

by RTT Staff Writer

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