Canadian Stocks On 3-day Losing Skid -- Canadian Commentary

(RTTNews) - Canadian stocks fell for a third day in a row Wednesday, as crude oil prices tumbled and authorities warned of problems in the housing sector.

"Housing construction is expected to decline slightly in 2016 and 2017 to levels more consistent with economic and demographic fundamentals, before stabilizing in 2018," CMHC said in a release.

The S&P/TSX Composite slipped 63.07 points, or 0.42 percent, to 14,807.56 falling further from last week's 16-month peak.

Gold stocks were hammered, energy shares crept lower, but financial stocks managed modest gains.

In corporate news, CIBC (CM.TO) has reached a settlement deal with the Ontario Securities Commission on overcharging client fees.

DH Corp (DH.TO) plunged 43 percent after its earnings missed expectations.

Canadian Utilities LTD(CU.TO) announced third quarter adjusted earnings for 2016 of $96 million compared to $99 million in 2015.

Premier Gold Mines Ltd.(PG.TO) signed acquisition deals with Goldcorp (G.TO) and Kinross (K.TO).

Osisko Mining Corp.(OSK.TO) has divested its stock in Kilo Goldmines.

ProMetic Life Sciences Inc. (PLI.TO) plasminogen met primary and secondary end points in a pivotal phase 2/3 trial.

Dec. WTI oil settled at $49.18/bbl, down 78 cents, or 1.6%.

The U.S. Energy Information Administration reported that domestic crude supplies unexpectedly fell by 588,000 barrels in the week ended Oct. 21.

Analysts expected a small build.

The EIA data stands in stark contrast to yesterday's American Petroleum Institute (API) report showing that U.S. crude stocks rose by 4.8 million barrel.