TSX retreats from all-time high as energy stocks grind lower
Reuters
Published Nov 19, 2019 10:16
(Reuters) - Canada's main stock index eased from a record high hit in the previous session on Tuesday, after a drop in oil prices for the second straight day hit energy stocks.
* At 09:46 a.m. ET (1446 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 34.49 points, or 0.2%, at 16,990.62.
* The energy sector subindex dropped 0.7%, the most among other major sectors, as crude prices extended their decline on limited progress on the U.S.-China trade deal. [O/R]
* U.S. crude CLc1 prices were down 1.8% a barrel, while Brent crude LCOc1 lost 1.4%.
* The financials sector slipped 0.2%, while the industrials sector fell 0.3%.
* Data was also not reassuring, as it showed Canadian home prices fell in October for the first time in six months but an underlying upswing was maintained.
* Shares in Canadian National Railway Ltd dropped 0.6%, extending a decline from the previous session, after Canada's Teamsters labor union gave the company notice late last week on intent to strike starting Nov. 19.
* On the TSX, 82 issues were higher, while 144 issues declined for a 1.76-to-1 ratio to the downside, with 22.33 million shares traded.
* The top percentage gainers on the TSX were shares in cannabis producers Hexo Corp (TO:HEXO), which jumped 3.6% and Aphria Inc (TO:APHA), which rose 3%.
* The healthcare sector rose 0.1%.
* Ballard Power (TO:BLDP) fell 7.8%, the most on the TSX.
* The most heavily traded shares by volume were Aurora Cannabis (TO:ACB), Green Organic Dutchman Holdings (TO:TGOD)and Sun Life Financial (TO:SLF).
* The TSX posted 11 new 52-week highs and three new lows.
* Across all Canadian issues there were 80 new 52-week highs and 20 new lows, with total volume of 37.37 million shares.
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Written By: Reuters
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