Toronto stocks slip on materials drag after glum China data

Sept 5 - Canada's main stock index lagged on Tuesday, as materials and technology stocks declined on the back of weak services sector data from China, while investors braced for the Bank of Canada's interest rate decision this week.

Global stock markets fell after data showed China's services activity expanded at its slowest pace in eight months in August, even as weak demand continued to dog the world's second-largest economy and government stimulus failed to revive consumption meaningfully. Rate sensitive technology stocks led sectoral declines, falling over 1% while yields slipped. Canadian government 10-year bond yield fell 0.9%.

"Recent data tells us that the Canadian economy is kind of stalled. The BoC would be on the side of caution, and they are definitely on pause for the upcoming rate decision tomorrow," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks edge lower amid China data gloom: Stock market news todayStocks slipped on Tuesday, as traders weighed data showing China's economy is still struggling to recover.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian shares fall back amid selling of China property sharesShares fell back Tuesday in Asia after U.S. markets were closed for the Labor Day holiday. U.S. futures also were lower and oil prices were mixed. Hong Kong fell more than 1% as Chinese property stocks declined as investors sold to lock in gains fueled by recent efforts to support the ailing industry. China Vanke lost 1.2%, while Country Garden Holdings gave up 2%. Hong Kong-based Sun Hung Kai Properties shed 2.4%. Chinese services data came in weaker than expected, dulling hopes for a rebound i
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

UK PMI survey shows sharpest business slowdown in 7 monthsMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »