TSX reverses early gains as gold stocks weigh
Reuters
Published Aug 25, 2020 13:37
(Reuters) - Canada's main stock index shed early gains to trade flat on Tuesday as gold stocks slipped on hopes surrounding a potential COVID-19 vaccine and positive U.S.-China trade front.
* The energy sector climbed 0.7% as U.S. crude prices were up 1.9% a barrel, while Brent crude added 1.8%. [O/R]
* While the materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.9% as gold futures fell 0.5% to $1,918.7 an ounce. [GOL/]
* At 0940 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 3.85 points, or 0.02%, at 16,622.79.
* The financials sector gained 0.5%, while the industrials sector fell 0.2%.
* On the TSX, 82 issues were higher, while 132 issues declined for a 1.61-to-1 ratio to the downside, with 11.12 million shares traded.
* The largest percentage gainers on the TSX were Bank of Montreal (TO:BMO), which jumped 4.5% after the lender posted upbeat third-quarter numbers.
* Its gains were followed by oil producer Crescent Point Energy Corp (TO:CPG), which rose 3.3%.
* The fuel-cell products developer Ballard Power Systems Inc (TO:BLDP) fell 4%, the most on the TSX, and the second-biggest decliner was Aurinia Pharmaceuticals Inc (TO:AUP), down 3.1%.
* The most heavily traded shares by volume were Bombardier Inc (TO:BBDb), D-BOX Technologies Inc (TO:DBO), and Northern Dynasty Minerals Ltd (TO:NDM).
* The TSX posted one new 52-week highs and no fresh lows.
* Across all Canadian issues there were 19 new 52-week highs and three new lows, with total volume of 26.07 million shares.
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Written By: Reuters
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