Canadian stocks close at year-low on Greece woes

By Sue Chang, MarketWatch

SAN FRANCISCO (MarketWatch) — Canadian stocks closed Tuesday at a new low for the year, succumbing to world-wide concerns about the euro zone’s financial woes.

The S&P/TSX Composite Index  fell 155.92 points, or 1.3%, to end at 11,704.74. It was also the benchmark’s lowest close since Dec. 19.

The political situation in Greece took an uncertain turn after Antonis Samaras, the leader of the conservative New Democracy party, said Monday that it was impossible to form a coalition government. It is now up to Alexis Tsipras who heads the antiausterity Coalition of the Radical Left, or Syriza, to undertake the task.

The S&P/TSX Capped Diversified Metals & Mining Index  slumped 2.2% and the S&P/TSX Capped Materials Index /zigman2/quotes/210598474/delayed XX:TORGC195 -0.09%  surrendered 2.8% while the S&P/TSX Capped Industrials Index /zigman2/quotes/210598464/delayed XX:TORGC193 +0.23%  dropped 1.3%.

Resources and gold companies were some of the biggest losers with Kinross Gold Corp. /zigman2/quotes/200423011/delayed CA:K +0.67%   /zigman2/quotes/208295151/composite KGC +1.38%  tanking 6.5% and Teck Resources Ltd.  shedding 4.4%. Goldcorp Inc. /zigman2/quotes/225792379/delayed CA:G -4.93%  sank 4.3% and Agnico-Eagle Mines Ltd. /zigman2/quotes/205100210/delayed CA:AEM -0.85%  fell 3.1%.

Gold for June delivery  slid $34.60, or 2.1%, to settle at $1,604.50 an ounce on the New York Mercantile Exchange as a strong dollar /zigman2/quotes/210598269/delayed DXY -0.26%  on the back of developments in Europe dulled gold’s glow. Read MarketWatch’s gold report

News that Canada’s housing starts jumped to a seasonally adjusted annual rate of 244,900 units in April, the highest since September 2007, failed to spread much cheer in the weak market.

In currencies, the Canadian dollar eased, with the U.S. dollar /zigman2/quotes/210561978/realtime/sampled USDCAD -0.0220%  buying 99.85 Canadian cents in recent activity.

/zigman2/quotes/210598474/delayed

Add to watchlist XX:TTMT

S&P/TSX Capped Materials Index

XX : Canada: Toronto

346.42

-0.30 -0.09%

Volume: 55.41M

March 27, 2023 4:56p

/zigman2/quotes/210598464/delayed

Add to watchlist XX:TTIN

S&P/TSX Capped Industrials Index

XX : Canada: Toronto

396.73

+0.90 +0.23%

Volume: 8.52M

March 27, 2023 4:56p

/zigman2/quotes/200423011/delayed

Add to watchlist CA:K

Kinross Gold Corp.

CA : Canada: Toronto

$ 6.01

+0.04 +0.67%

Volume: 6.62M

March 27, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

2.74%

Market Cap

$7.50 billion

Rev. per Employee

N/A

/zigman2/quotes/208295151/composite

Add to watchlist KGC

Kinross Gold Corp.

US : U.S.: NYSE

$ 4.42

+0.06 +1.38%

Volume: 17.09M

March 27, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

2.71%

Market Cap

$5.45 billion

Rev. per Employee

N/A

/zigman2/quotes/225792379/delayed

Add to watchlist CA:G

Augusta Gold Corp.

CA : Canada: Toronto

$ 1.35

-0.07 -4.93%

Volume: 107,483

March 27, 2023 3:53p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$122.02 million

Rev. per Employee

N/A

/zigman2/quotes/205100210/delayed

Add to watchlist CA:AEM

Agnico-Eagle Mines Ltd.

CA : Canada: Toronto

$ 70.36

-0.60 -0.85%

Volume: 5.70M

March 27, 2023 4:00p

P/E Ratio

35.66

Dividend Yield

3.08%

Market Cap

$32.35 billion

Rev. per Employee

$464,089

/zigman2/quotes/210598269/delayed

Add to watchlist DXY

U.S. Dollar Index (DXY)

US : U.S.: ICE Futures U.S.

102.59

-0.27 -0.26%

Volume: 0.00

March 28, 2023 7:32a

/zigman2/quotes/210561978/realtime/sampled

Add to watchlist USDCAD

Canadian Dollar

US : Tullett Prebon

1.3659

-0.0003 -0.0220%

Volume: 0.0000

March 28, 2023 7:42a