TSX opens lower as oil stocks weigh

Reuters

Published Apr 22, 2021 07:40

Updated Apr 22, 2021 10:12

(Reuters) -Canada's main stock index fell on Thursday, weighed by energy stocks as a renewed surge in coronavirus infections in some Asian countries raised concerns about oil demand.

** India, the third largest consumer of oil, recorded the world's highest daily tally of 314,835 COVID-19 infections on Thursday as a second wave of the pandemic raised new fears about the ability of crumbling health services to cope.

* The energy sector dropped 1.2% as U.S. crude prices were down 0.1% a barrel, while Brent crude were flat. [O/R]

* At 9:45 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 66.16 points, or 0.3%, at 19,090.35.

* The materials sector, which includes precious and base metals miners, lost 1.2% as gold futures fell 0.7% to $1,779.6 an ounce. [GOL/] [MET/L]

* Alphawave, a Toronto-based silicon IP firm, is planning to list in London to expand the reach of its chip connectivity technology and could be valued at up to $4.5 billion based on cornerstone agreements with two major investors.

* On the TSX, 47 issues were higher, while 174 issues declined for a 3.70-to-1 ratio to the downside, with 11.59 million shares traded.

* The largest percentage gainers on the TSX were Ballard Power, which jumped 5.4%, and Laurentian Bank of Canada, which rose 2.9%.

* Hudbay Minerals fell 2.6%, the most on the TSX, while the second biggest decliner was Fortuna Silver Mines, down 2.3%.

* The most heavily traded shares by volume were Pine Cliff Energy, Royal Bank of Canada and Tetra Bio Pharma.