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TSX falls as factory activity slows; energy stocks weigh

Published 2019-09-03, 09:58 a/m
© Reuters.  TSX falls as factory activity slows; energy stocks weigh
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Sept 3 (Reuters) - Canada's main stock index fell on Tuesday as domestic manufacturing activity slowed in August amid global trade worries, while a sharp slide in oil prices weighed on energy shares.

* At 9:32 a.m. ET (13:32 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 50.89 points, or 0.31%, at 16,391.18.

* IHS Markit data showed, a measure of new orders fell to the lowest since December 2015, while the output index was in contraction for the fifth straight month and a measure of business optimism dropped to a three-and-a-half year low. Five of the index's 11 major sectors were lower.

* The energy sector .SPTTEN dropped 2.3%, as oil prices, one of Canada's major exports, dropped on rising OPEC and Russian oil output.

* U.S. crude CLc1 prices were down 3.6% a barrel, while Brent crude LCOc1 lost 2.3%. O/R

* The financials sector .SPTTFS slipped 0.4%, while the industrials sector .GSPTTIN fell 0.5%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.9% as gold futures GCc1 rose 0.9% to $1,533.1 an ounce. GOL/ MET/L

* On the TSX, 59 issues were higher, while 174 issues declined for a 2.95-to-1 ratio to the downside, with 7.39 million shares traded.

* The largest percentage gainers on the TSX were First Majestic Silver Corp FR.TO , which jumped 3.1% and Kirkland Lake Gold Ltd KL.TO , which rose 3%.

* Baytex Energy Corp BTE.TO fell 5.2%, the most on the TSX. The second biggest decliner was CannTrust Holdings Inc TRST.TO , down 5.2%.

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* The most heavily traded shares by volume were Stornoway Diamond Corp SWY.TO , Crescent Point Energy Corp CPG.TO and Sherritt International Corp S.TO .

* The TSX posted five new 52-week highs and no new low.

* Across all Canadian issues there were 30 new 52-week highs and nine new lows, with total volume of 16.74 million shares.

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