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CANADA STOCKS-TSX flat as fall in energy stocks offsets gains in financials

Published 2018-07-18, 10:20 a/m
© Reuters.  CANADA STOCKS-TSX flat as fall in energy stocks offsets gains in financials
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July 18 (Reuters) - Canada's main stock index was trading flat on Wednesday, as gains in financials were offset by a slide in energy stocks due to lower oil prices.

* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was down 0.57 points, or flat, at 16,518.67.

* Oil prices fell after a rise in U.S. crude inventories highlighted increasing global supply and concerns over weak demand. O/R

* Six of the index's 11 major sectors were lower, weighed by losses in the energy sector .SPTTEN that dropped 0.7 percent.

* U.S. crude CLc1 and Brent crude LCOc1 prices slipped 1 percent.

* Top drags on the energy sector were shares of Enbridge ENB.TO , off 0.6 percent, and Canadian Natural Resources ' CNQ.TO 0.4 percent drop.

* The financials sector .SPTTFS gained 0.1 percent, as Federal Reserve Chairman Jerome Powell's comments on the U.S. economy reinforced views that the central bank was on track to steadily hike interest rates. On the TSX, 109 issues were higher, while 123 issues declined for a 1.13-to-1 ratio to the downside, with 9.37 million shares traded.

* The top percentage gainers on the TSX were Eldorado Gold ELD.TO , which jumped 2.9 percent, and Nexgen Energy Ltd NXE.TO , which rose 2.4 percent.

* Canopy Growth Co WEED.TO fell 3.5 percent, top decliner on the TSX, and second biggest decliner was Kirklnd Lake Gold KL.TO , down 2.6 percent after a rating cut from BMO.

* The most heavily traded shares by volume were Canopy Growth, Fission Uranium FCU.TO and Aurora Cannabis ACB.TO .

* The TSX posted three new 52-week highs and one new low.

* Across all Canadian issues there were 18 new 52-week highs and six new lows, with total volume of 15.76 million shares.

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