TSX Falls, Gold And Crude Oil At 6-year Lows -- Canadian Commentary

(RTTNews) - Canadian stocks faltered Thursday, ending a modest win streak that helped Toronto's main index rise from 2-year lows.

The S&P/TSX Composite Index dropped 156.15 points, or 1.19 percent, to 13,009.93, as weakness was seen in most sectors.

Crude oil and gold prices fell sharply in the aftermath of yesterday's Federal Reserve interest rate hike in the US.

January oil lost 57 cents, or 1.6%, to settle at $34.95/bbl on Nymex, its lowest since February 2009.

February gold tumbled $27.20, or 2.5%, to settle at $1,049.60/oz on the New York Mercantile Exchange, also the lowest since 2009.

The Gold Index was down 5.6 percent, with Barrick Gold (ABX.TO) and Iamgold (IMG.TO) among the miners coming under pressure.

The Energy Index, which failed to rally earlier in the week, dropped another 0.9 percent.

Canadian Pacific (CP,CP.TO) presented a sweetened offer for Norfolk Southern Corp. (NSC) CP CEO Hunter Harrison says he is prepared for a "street fight" in order to merge the companies.

CP shares were flat.

Amaya Gaming Group Inc..(AYA.TO) responded to a lawsuit in Kentucky related to the activities of PokerStars between 2006 and 2011, claiming that the action is "frivolous and without merit". Shares fell 4.5 percent.

Shaw Communications Inc (SJR.B.TO) said it has agreed to buy Mid-Bowline Group Corp and its subsidiary Wind Mobile Corp. Shaw lost 7.7 percent.