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TSX falls ahead of government's new coronavirus spending plan

Published 2020-11-30, 11:19 a/m
© Reuters. FILE PHOTO: The facade of the original Toronto Stock Exchange building is seen in Toronto
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(Reuters) - Canada's main stock index fell on Monday, as investors awaited the government's new spending plans and details of its emergency support measures to tackle the accelerating coronavirus infections across the country.

The so-called Fall Economic Statement (FES) will include initial investments on green stimulus measures, a "down payment" on a national childcare plan announced in September, while new COVID-19 relief measures for hard-hit sectors is also expected.

* At 10:34 a.m. ET (15:34 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 203.09 points, or 1.17%, at 17,193.47.

* Canada's current account deficit widened to C$7.53 billion ($5.82 billion) in the third quarter.

* Producer prices in Canada fell by 0.4% in October from September, while the value of Canadian building permits slid by 14.6% last month, much wider than analyst forecast of 5.0%decline.

* The energy sector dropped 1.7% as U.S. crude prices were down 0.5% a barrel, while Brent crude lost 1.1%.

* The financials sector slipped 0.9%. The industrials sector fell 0.7%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.1% as gold futures fell 0.6% to $1,771.5 an ounce.

* On the TSX, 28 issues were higher, while 190 issues declined for a 6.79-to-1 ratio to the downside, with 50.35 million shares traded.

* The largest percentage gainers on the TSX were Aphria Inc, which jumped 5.5%, while Shopify Inc rose 2.4% after its global Black Friday sales topped $2.4 billion.

* Lightspeed Pos Inc fell 6.7%, the most on the TSX, after brokerage BTIG downgraded the stock rating to neutral. The second biggest decliner was Silvercorp Metals Inc, down 5.8%.

* The most heavily traded shares by volume were Bombardier Inc, up 7.1%; Suncor Energy, down 1.8% and Score Media and Gaming Inc, up 26.8%.

* The TSX posted eight new 52-week highs and no new lows.

© Reuters. FILE PHOTO: The facade of the original Toronto Stock Exchange building is seen in Toronto

* Across all Canadian issues there were 49 new 52-week highs and two new lows, with total volume of 113.79 million shares.

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