TSX edges down as inflation rate falls
Reuters
Published Aug 19, 2020 08:18
Updated Aug 19, 2020 10:42
(Reuters) - Canada's main stock index slipped on Wednesday, weighed by energy stocks, as data showed inflation rate came in below expectations in July after price growth slowed broadly across the goods and services sectors.
* Canada's annual inflation rate fell to 0.1% in July from 0.7% in June, below analyst expectations of 0.5%.* The energy sector dropped 0.6% as oil prices fell on concerns that U.S. fuel demand will face a slow recovery amid stalled talks on an economic stimulus package and despite support from a bigger-than-expected drawdown in U.S. crude stocks.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.9%. [GOL/]* At 9:46 a.m. ET (1346 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 10.67 points, or 0.06%, at 16,615.39.
* Canadian Prime Minister Justin Trudeau is weighing sweeping changes to the country's social welfare system and a series of economic measures that will align Canada with ambitious climate goals.
* On the TSX, 103 issues were higher, while 107 issues declined for a 1.04-to-1 ratio to the downside, with 15.45 million shares traded.
* The largest percentage gainer on the TSX was Canfor Corp (TO:CFP), which jumped 8.2%, after RBC raised its target price on stock.
** Wood-based panel maker Norbord Inc (TO:OSB), which rose 5.9%, was the second biggest percentage gainer.
* B2Gold Corp (TO:BTO) fell 4%, the most on the TSX, followed by Torex Gold Resources Inc (TO:TXG), down 3.4%.
* The most heavily traded shares by volume were D-Box Techno (TO:DBO), B2Gold Corp (TO:BTO) and Mega Uranium Ltd (TO:MGA).
* The TSX posted seven new 52-week highs and no new low.
* Across all Canadian issues there were 21 new 52-week highs and four new lows, with total volume of 41.66 million shares.
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Written By: Reuters
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