TSX dips on U.S.-China trade worries; energy, pot stocks ease blow
Reuters
Published Nov 21, 2019 10:08
(Reuters) - Canada's main stock index dipped on Thursday, as conflicting cues on U.S.-China trade discussions dampened sentiment, but gains in shares of energy and cannabis producers kept losses at bay.
* At 9:45 a.m. ET (1445 GMT), the Toronto Stock Exchange's S&P/TSX Composite index was down 17.8 points, or 0.1%, at 16,988.02.
* Political tensions between the United States and China after a U.S. bill supporting Hong Kong protests dulled the mood.
* Nine of the index's 11 major sectors were lower with only the energy and healthcare sectors trading in the black.
* Energy stocks climbed 0.6% as oil prices rose following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020.
* U.S. crude prices were up 1.2% a barrel, while Brent crude added 0.9%.
* Healthcare stocks jumped nearly 4% as cannabis producers rallied after reports that the U.S. House Judiciary Committee approved a bill to legalize cannabis on a federal level in the United States.
* Canopy Growth Co, Aurora Cannabis and Hexo Corp led advancers on the TSX, with gains ranging between 13% and 10%.
* On the TSX, 86 issues were higher, while 139 issues declined for a 1.62-to-1 ratio to the downside, with 22.48 million shares traded.
* OceanaGold Corp (TO:OGC) fell 4.7%, the most on the TSX, followed by Turquoise Hill Resources (TO:TRQ), down 3.4%.
* The most heavily traded shares by volume were those of Aurora Cannabis, Green Organic Dutchman (TO:TGOD) and Canopy Growth.
* Nine shares on the TSX posted new 52-week highs and two new lows.
* Across all Canadian issues there were 22 new 52-week highs and four new lows, with total volume of 38.76 million shares.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.