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CLOSING BELL: TSX gives up early gains to close lower

The TSX was up early today on the back of surging oil prices, but it didn’t last.

Canada’s main stock market gave those gains back steadily as the day went on. Oil is getting a boost over supply fears, as the U.S. is pushing importers to not buy from Iran and issues in the region could cut off the taps from Libya.

Marijuana stocks led a decline in the health sector as Canopy Growth announced a quarterly loss and the TSX closed the day at 16,231, down 48 points. In a speech today Bank of Canada governor Stephen Poloz gave no hints on whether or not a July interest rate hike was coming.

Wall Street had a similar day with things starting off strong but it ended up down, losing 165 points and closing at 24,117. And oil is up $1.79 to $72.32 U.S. per barrel, gold is down $6.60 to $1,253.30 an ounce, and the loonie is down half a cent to 74.79 cents U.S.

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