Toronto stock market ends dismal October down 17%
A man relaxes against the electronic board on Toronto's King Street Friday showing the TSX index after the close of trading. (Robin Rowland/CBC)
The Toronto stock market ended one of its worst months in history Friday, with the benchmark index falling 17 per cent in October.
The S&P/TSX composite index is now down more than 4,000 points, or about 30 per cent, since the beginning of 2008.
While it was a dismal month, the market rose more than 1,300 points, or about five per cent, during three sessions in mid-week.
On Friday, the S&P/TSX closed down 93 points at 9,762 after swinging wildly most of the week.
The energy sector ended the day lower even though the December crude oil contract rose $1.85 to $67.81 on the New York Mercantile Exchange.
Crude oil has dropped 32.6 per cent since the start of October, which is its biggest drop in value since it began trading on the Nymex in 1983.
The Canadian dollar rose 0.92 of a cent, closing at 83.02 cents US after falling to its lowest level in more than four years early in the week as the U.S. dollar surged against other major currencies.
Since closing at 77.59 cents US on Monday, the loonie has roared back as the U.S. dollar lost momentum.
The TSX gold sector was one of the biggest losers, down 6.8 per cent, as the bullion contract dropped $20.30 to $718.20 US an ounce.
In New York, the Dow Jones overcame morning losses to climb 144 points to 9,325, despite a U.S. Commerce Department report that said personal spending fell 0.3 per cent last month, the biggest decline since June of 2004.
The Nasdaq ended the day up 22 points to 1,720.95.
With files from the Canadian Press
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