TSX flat as energy drag offsets U.S. stimulus optimism
Reuters
Published Jan 15, 2021 07:26
Updated Jan 15, 2021 10:12
(Reuters) - Canada's main stock index was muted on Friday, as weakness in energy stocks and fears of tighter lockdowns amid rising coronavirus cases globally outweighed optimism around a $1.9 trillion U.S. stimulus plan.
* The energy sector dropped 1.9% as U.S. crude prices were down 1.5% a barrel, while Brent crude lost 1.6% amid the prospect of tighter lockdowns in Germany and France as well as new COVID-19 restrictions in China. [O/R]
* Biden outlined a $1.9 trillion coronavirus stimulus package proposal on Thursday to jump-start the pandemic-hit economy.
* At 9:38 a.m. ET (14:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 7.48 points, or 0.04%, at 17,950.61.
* The financials sector slipped 0.2%. The industrials sector fell 0.4%.
* Ballard Power Systems Inc fell 7.4%, the most on the TSX. The second biggest decliner was Osisko Mining Inc, down 5.5%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.5%.
* On the TSX, 66 issues were higher, while 149 issues declined for a 2.26-to-1 ratio to the downside, with 18.61 million shares traded.
* The largest percentage gainers on the TSX were Blackberry (TSX:BB) Limited (TO:BB), which jumped 25.6% to its highest in more than two years, and Aphria Inc (TO:APHA), which rose 11.5% extending its prior session's gains after an upbeat quarterly earnings.
* The most-heavily traded shares by volume were BlackBerry Limited (TO:BB), Green Organic Dutchman Holdings Ltd (TO:TGOD) and Zenabis Global Inc (TO:ZENA).
* The TSX posted four new 52-week highs and no new lows.
* Across all Canadian issues there were 24 new 52-week highs and two new lows, with total volume of 50.17 million shares.
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Written By: Reuters
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