TSX Falls From Record Highs -- Canadian Commentary

(RTTNews) - Canadian stocks were hammered Thursday, with significant weakness in the energy and health care sectors.

Bay Street was a sea of red. Gauges of all major sectors were in negative territory.

The TSX Composite Index was down 120.13 points to 16,016, falling from a record peak.

The European Central Bank, the Bank of England and the Swiss National Bank all decided to leave their respective interest rates unchanged today.

Bombardier (BBD-B.TO) lost 1.9 percent. The company provided 2018 guidance and confirmed that its five-year turnaround plan remains on track. The company also affirmed its 2017 guidance, as revised with the announcement of its third quarter 2017 results.

On the economic front, a report from Statistics Canada this morning showed that the Canadian new housing price index increased by 0.1 percent in October. Economists had expected an increase of 0.2 percent.

Retail sales in China were up 10.2 percent on year in November, the National Bureau of Statistics said on Thursday. That missed forecasts for 10.3 percent but was still up from 10.0 percent in October.