Posted AT 3:44 PM EST on 04/03/08
Say hello to oil, the TSX's new boss
A remarkable event is unfolding at the S&P/TSX composite index: The financials sector, which has long been the backbone of the index because of its heavy weighting within it, has tumbled into second place. The usurper? Energy.
Now, investors are left to decide whether this is a sign that the benchmark index has once again become tilted in favour of an overvalued, overhyped sector - the way it was when Nortel Networks Corp.
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