Gold stocks push Toronto index down

<p>Falling gold price has affected markets in Canada.</p>

The falling cost of gold has had an impact on markets in Canada, with the Toronto stock market having one of its worst days in recent times yesterday (August 6th).

Although data from the US was encouraging, the TSX was hit by a triple-digit loss that was mainly due to weaker gold stocks on Tuesday, reports the Canadian Press.

However, the Canadian dollar was ahead 0.13 of a cent to 96.38 cents as the S&P/TSX composite index fell by 133.93 points to 12,469.32.

BlackBerry shares were seven per cent higher and were one of the strongest performers on the index during the day's trading, rising by 64 cents to $9.91.

This came after it was announced by Samsung that BlackBerry Messenger is going to be available on its smartphones in Africa soon.

BlackBerry has found life tough in the last couple of years as the company struggles to compete with major rivals such as Apple and Samsung for space in the saturated smartphone market.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.