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TSX drops on fears of new wave of coronavirus cases

Published 2020-05-11, 07:49 a/m
© Reuters. The facade of the original Toronto Stock Exchange building is seen in Toronto

(Reuters) - Canada's main stock index fell on Monday, as investors were wary about a second wave of coronavirus infections after several countries revived economic activities.

* On Sunday, Germany and South Korea announced a spike in new COVID-19 cases, an alarming indication for all countries beginning to raise pandemic-led lockdowns.

* At 09:43 a.m. ET (1343 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 60.41 points, or 0.4%, at 14,906.15.

* The energy sector dropped 1.3% and was among the biggest decliners on the main index. U.S. crude prices were up 2.1% a barrel and Brent crude added 0.1%. [O/R]

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures fell 0.4% to $1,704 an ounce. [GOL/]

* On the TSX, 53 issues were higher, while 174 issues declined for a 3.28-to-1 ratio to the downside, with 18.97 million shares traded.

* The largest percentage gainers on the TSX was wealth and asset management company IGM Financial Inc (TO:IGM), which jumped 5%, after the company reported quarterly results.

* Its gains were followed by Labrador Iron Ore Royalty Corp (TO:LIF), which rose 3.4%.

* Sports and marine products manufacturer BRP Inc (TO:DOO) fell 5.2%, the most on the TSX. The second biggest decliner was Artis Real Estate Investment Trust (TO:AX_u), down 4.1%, after multiple brokerages lowered their price target on stock.

* The most heavily traded shares by volume were Freegold Ventures Ltd (TO:FVL), Bombardier Inc (TO:BBDb) and Aleafia Health Inc (TO:ALEF).

* The TSX posted three new 52-week highs and no new low.

* Across all Canadian issues there were nine new 52-week highs and no new low, with total volume of 40.86 million shares.

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

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