CANADA STOCKS-TSX flat as health stocks offset losses in financials
Published May 18, 2018 10:51
CANADA STOCKS-TSX flat as health stocks offset losses in financials
May 18 (Reuters) - Canada's main stock index was trading flat on Friday as a rise in healthcare stocks offset a drop in financial shares after inflation data lifted expectations the central bank will hold interest rates steady later this month.
* At 10:19 a.m. ET (1419 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 4.4 points, or 0.03 percent, at 16,139.15.
* Canadian inflation cooled slightly in April, Statistics Canada said, dampening prospects of another Bank of Canada interest rate hike as early as this month and weakening the Canadian dollar. The financials sector .SPTTFS slipped 0.3 percent, weighed down by a 1.3 percent drop in Royal Bank of Canada RY.TO and Bank of Nova Scotia's BNS.TO 0.8 percent decline.
* Seven of the index's eleven major sectors were higher, led by the healthcare sector's .GSPTTHC 2.85 percent jump.
* Transportation and auto-related stocks fell after U.S. Trade Representative Robert Lighthizer said "the NAFTA countries are nowhere near close to a deal." Statistics Canada data showed Canadian retail sales rose by the most in five months in March, driven by higher spending on vehicles and clothing. On the TSX, 147 issues were higher, while 84 issues declined for a 1.75-to-1 ratio favoring gainers, with 10.85 million shares traded.
* The largest advancers on the exchange were cannabis firms, with Aurora Cannabis ACB.TO rising 5.3 percent, Canopy Growth WEED.TO 4.8 percent and Aphria Inc APH.TO 4.7 percent.
* Prometic Life Sciences PLI.TO fell 2.7 percent, the most on the TSX, followed by Element Fleet Management's EFN.TO 2.5 percent decline.
* The most heavily traded shares by volume were Aurora Cannabis, Neovasc Inc NVCN.TO and Canopy Growth.
* The TSX posted five new 52-week highs and no new lows.
* Across all Canadian issues there were twelve new 52-week highs and eight new lows, with total volume of 18.27 million shares.
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Written By: Reuters
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