07.10.2008 - Canada stocks drop to 3-year low on commodity, growth concern
From Bloomberg: Canadian stocks fell, sending the main index to the lowest in three years, as commodity producers slid on concern their profits will be hurt by a global recession. Suncor Energy Inc. dropped as much as 21 percent as oil fell to less than $88 a barrel. Potash Corp. of Saskatchewan Inc. paced the slide in raw-materials shares as at least three banks said Canada will slip into recession because of the U.S. slowdown and the deepening global credit crisis. The Standard & Poor's/TSX Composite Index pared losses in the last hour of trading on speculation that central banks, led by the U.S. Federal Reserve, may cut interest rates to unlock bank lending. .... Full Article: Source
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