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Sector Scopes Sept Update & Crude Oil Continuous Contract (CL.F)

In this edition of the Equity Leaders Weekly, we take our monthly look at sector scopes and at recent weakness in the oil market. The overall trend toward monetary tightening by central banks continues this week with the Bank of Canada and the Reserve Bank of Australia raising their benchmark rates by 0.75% and 0.50% respectively. This morning the European Central Bank raised by 0.75%, higher than expected.

Precision Drilling Corp (PD.TO)

Energy stocks, both producers and service companies like Precision Drilling (PD.TO), came under significant pressure yesterday as oil & gas prices retreated. Precision Drilling has slid back down into the Yellow Neutral Zone yesterday, falling 7 positions to 68th place.

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