TSX ends July trading with across-the-board loss, ends month higher
Published Wednesday, July 31, 2013 9:23AM EDT
Last Updated Wednesday, July 31, 2013 4:28PM EDT
TORONTO -- The Toronto stock market closed lower Wednesday as July trading came to an end with losses across most sectors.
Market reaction to the end of a two-day Federal Reserve meeting was muted as the central bank -- as widely expected -- offered no clues as to when it might start to wind down a key piece of stimulus.
The S&P/TSX composite index dropped 95.11 points to 12,486.64, as the Fed said it would carry on with its monthly $85 billion of bond purchases and that rates will remain unchanged near zero.
Traders think it is far more likely the Fed will move towards tapering the purchases at its next meeting in September.
The loonie was ahead 0.28 of a cent to 97.35 cents US.
New York indexes were generally lacklustre as the Dow Jones industrials lost 21.05 points to 15,499.54, the Nasdaq was ahead 9.9 points to 3,626.37 while the S&P 500 index slipped 0.24 of a point to 1,685.72.