Canadian Stocks Turn Lower Along With Commodities -- Canadian Commentary

(RTTNews) - Canadian stocks edged lower Thursday, trimming recent gains as commodity prices eased from recent highs.

Markets took a breather to assess the latest news from Europe, where central bankers held steady on interest rates but said they would remain highly accomodative.

The S&P/TSX Composite Index was down 30.09 points, or 0.22 percent, to 13,881.20.

Mining stocks dropped 2.8 percent, but are up about 14 percent so far this week.

Celestica Inc. (CLS.TO) revealed earnings for its first quarter that advanced 14% compared to the same period last year. Shares were up sharply.

Air Canada (AC.TO) fell 3.3 percent. Air Canada Express flight AC7804 sustained damage to its landing gear upon landing on April 20, 2016 with 14 passengers and 2 crew on board.

Crude oil futures dropped after hitting multi-month highs near $45 a barrel.

Traders booked profits amid speculation that the global supply glut may worsen once Kuwaiti oil comes back to market.