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Stocks End Week On Sour Note -- Canadian Commentary

Canadian stocks inched lower for a third straight session despite a relatively strong jobs report.

Data from Statistics Canada this morning showed that the Canadian economy added 22,000 jobs in August. Economists had been expecting an increase of 19,000 jobs. The Canadian unemployment rate also dipped to 6.2 percent in August.

The TSX Composite Index was down 39.21 points, or 0.26 percent, to 14,985.32.

Hudson's Bay (HBC.TO) told the Globe and Mail it has no intention of selling German department store chain Kaufhof. Shares fell 2.7 percent.

TransCanada (TRP.TO) will suspend the application for its Energy East pipeline for 30 days and may abandon the project. Shares slipped fractionally.

U.S. West Texas Intermediate light crude oil was 2.04 percent, or $1, lower at $48.09 a barrel. Energy stocks slumped in reaction to falling oil prices.

by RTTNews Staff Writer

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