Brexit Fears Infect Bay Street -- Canadian Commentary

(RTTNews) - Canadian stocks edged lower Thursday, unable to sustain positive momentum from the previous session amid weaker resource producers.

Numerous geopolitical headwinds including 'Brexit' fears continued to weigh on market sentiment, while tumbling crude oil prices hurt the energy sector.

The S&P/TSX Composite Index was down 41.04 points, or 0.29 percent, to 13,882.41, its third decline in four days.

Energy stocks lost 1.1 percent. July WTI oil was down $1.80, or 3.8%, to settle at $46.21/bbl on Nymex.

Prices have collapsed since hitting a 10-month peak near $52 a week ago.

Gold stocks fell 1.4 percent, trimming recent gains as the rally in gold prices fizzled out.

Gold futures surged to their highest in 17 months early on Thursday, but faded back below $1300 an ounce as traders booked profits.

Meanwhile TD Bank has cut it 2016 growth outlook to 1.3 percent, blaming the Alberta wildfires the interrupted oil supplies for a month.