Canada: TSX Gives Back Record High.

The S&P TSX Composite Index fell 0.8% to close at 32,136 on Wednesday, retreating from two consecutive record highs as energy stocks came under renewed pressure. Shares of Canadian Natural and Cenovus fell more than 2%, extending weekly losses after US President Donald Trump signaled efforts to re-establish Venezuelan crude oil imports, raising concerns about added supply and heightened competition for Canadian exporters. The move weighed on sentiment despite Prime Minister Mark Carney’s remarks that Canadian crude remains low risk and competitive even if Venezuelan exports increase. Outside energy, major railways Canadian Pacific and Canadian National were among the top laggards, each shedding more than 3.6%. On the data front, the Ivey PMI rose to 51.9 in December from 48.4 in November, beating expectations of 49.5 and signaling a return to expansion after a brief contraction.