Canada's main stock index fell on Wednesday, following hefty losses in the previous session, as tumbling crude prices and weak manufacturing data out of China and the United States hurt the resource-rich index in low-volume trade. The Toronto Stock Exchange's S&P/TSX composite index fell 107.40 points, or 0.80 percent, to end the session at 13,383.69. Eight of its 10 main sectors fell, with the energy group giving up 2.2 percent and both industrials and materials down more than 1 percent.
The reports showed US manufacturing growth stuck at a two-year low in September and Chinese factory activity shrinking to a 6-1/2 year low. "What we're realising here, as investors, is that the fundamental backdrop is not as rosy as believed, and it certainly doesn't justify the valuations we had," said John Johnston, chief strategy officer at Davis-Rea.
Among the heaviest weights were fertiliser company Potash Corp, which fell 4.8 percent to C$27.93, and Canadian National Railway Co, down 1.7 percent at C$73.39. TransCanada Corp fell 2.7 percent to C$43.70, while Canadian Natural Resources lost 2.9 percent to C$25.87. US crude prices fell 3.5 percent to $44.73 a barrel, while Brent lost 2.5 percent to $47.87. Financials also featured among the biggest drags, with Bank of Nova Scotia dipping 1.1 percent to C$57.51 and Toronto-Dominion Bank declining 0.6 percent to C$51.19.