Canada's main stock index edged
lower Wednesday, hurt by a drop in gold mining stocks as bullion
weakened, with investors focused on the U.S. Federal Reserve's
policy announcement later in the day.
The heavyweight materials group, which includes gold miners,
fell 1.7 percent as the price of gold eased on caution ahead of
the Fed statement.
Canadian stocks had hit a five-week high on Tuesday, as
financial and energy shares rallied on hopes the Fed would
announce further monetary stimulus.
"We had a very good day yesterday, especially in Toronto,
and I think today maybe it's just more of the malaise that we've
had for quite awhile here," said John Kinsey, portfolio manager
at Caldwell Securities Ltd.
At 10:30 a.m. (1430 GMT), the Toronto Stock Exchange's
S&P/TSX composite index was down 35.15 points, or 0.3
percent, at 11,753.21.
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