TSX falls as energy stocks slide due to lower oil prices
Reuters
Published Jun 09, 2020 09:56
Updated Jun 09, 2020 10:42
(Reuters) - Canada's main stock index fell on Tuesday, dragged down by energy stocks as oil prices fell, while investors looked forward to the U.S. Federal Reserve's two-day meeting for cues on economic policy.
At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was down 136.68 points, or 0.86%, at 15,838.23.
The energy sector (SPTTEN) dropped 2.3% as U.S. crude (CLc1) prices were down 0.6% a barrel, while Brent crude (LCOc1) lost 1.1%, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts. [O/R]
The financials sector (SPTTFS) slipped 1.3%, while the industrials sector (GSPTTIN) fell 1.0%.
The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, added 0.5% as gold futures GCc1 rose 1.0% to $1,714.5 an ounce. [GOL/]
On the TSX, 45 issues were higher, while 183 issues declined for a 4.07-to-1 ratio to the downside, with 46.83 million shares traded.
The largest percentage gainer on the TSX was pot producer Hexo Corp (TO:HEXO), which jumped 9.6%, followed by Bombardier Inc (TO:BBDb) that rose 8.6% after brokerage Scotiabank raised rating and PT on the business jet maker's stock.
Oilfield services and equipment provider Shawcor Ltd (TO:SCL) fell 12.7%, the most on the TSX, followed by Air Canada (TO:AC) that lost 7.6%.
The most heavily traded shares by volume were Bombardier Inc (TO:BBDb), Hexo Corp (TO:HEXO) and Air Canada (TO:AC).
The TSX posted no new 52-week high or low.
Across all Canadian issues, there were five new 52-week highs and no new low, with total volume of 81.27 million shares.
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Written By: Reuters
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