TSX lower on financial, telecom and industrial weakness

The Toronto market’s move mirrored a slide in the prices for both oil and gold.

Canada’s main stock index fell on Tuesday despite a bounce back in resource stocks after Monday’s collapse, with heavy losses recorded among industrials and telecom stocks.

The mining sector vapored 3.22 percent, with gold shares shrinking greatly after gold futures on the COMEX division of the New York Mercantile Exchange dropped sharply Monday over investors’ expectations for a future increase in the U.

Five of the 10 main sectors on the index were higher.

Shares of Barrick Gold Corp, the world’s biggest gold producer, dropped almost 16 percent on Monday.

The choppiness in resource shares has weighed on the broader benchmark TSX index.

The gain came as the August contract for gold was down 20 cents at US$1,106.60 per ounce.

The most influential sector Financials was down 0.65 percent as well when Toronto-Dominion declined 0.62 percent to 52.70 Canadian dollars. It is down about 1.1 percent so far in 2015.

The Canadian dollar was up 0.29 of a cent to 77.23 cents US.