TSX Extends Recent Swoon, Health Care Stocks Crater -- Canadian Commentary

(RTTNews) - Canadian stocks continued to slide Thursday, touching new 8-week lows amid lingering concerns about NAFTA.

The TSX Composite Index was down 90 points at 15,860.92, as health care and consumer stocks were hit hard yet again. Higher oil prices failed to move the energy sector.

Scotiabank (BNS.TLO) has reached an agreement to buy Citibank's consumer and small business operations in Colombia. Shares fell 1.2 percent.

Britain's Sainsbury's has purchased the Nectar loyalty card business from Canada's Aimia (AIM.TO) for C$105-million. Aimia plunged 25 percent.

CIBC cut the rating on Ivanhoe Mines (IVN.TO) to neutral from outperform, and raised the rating on Toronto-Dominion Bank (TD.TO) to outperform from neutral.

WestJet (WJA.TO) said its ultra-low cost carrier will offer introductory fares as low as $7.50. Shares were up fractionally.

WTI light sweet crude oil was up 92 cents at $65.62 a barrel. Looking at London's Brent crude oil, Goldman Sachs raised its three-month forecast to $75 from $62 and its six-month forecast to $82.50 from $75.