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CANADA STOCKS-Energy stocks push TSX lower as oil prices weaken

Published 2020-08-21, 10:34 a/m
Updated 2020-08-21, 10:36 a/m
© Reuters.

Aug 21 (Reuters) - Canada's main stock index fell on Friday, weighed down by energy stocks as oil prices fell on concerns of a slow recovery in fuel demand due to the coronavirus-induced economic slowdown.

* Brent crude LCOc1 futures were down 75 cents, or 1.65%, at $44.15 a barrel by 1327 GMT, heading for a 1.5% weekly fall. The energy sector .SPTTEN dropped 1.0% as U.S. crude CLc1 prices were down 2.1% a barrel, while Brent crude LCOc1 lost 1.8%. O/R

* At 9:43 a.m. ET (1343 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 94.62 points, or 0.57%, at 16,512.14.

* Canadian retail sales rose by a record 23.7% in June, led by higher motor vehicle and parts sales, rising above February levels for the first time since the shutdowns tied to the coronavirus pandemic, Statistics Canada said on Friday. The financials sector .SPTTFS slipped 0.4%, while the industrials sector .GSPTTIN fell 0.3%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures GCc1 fell 1.2% to $1,910.9 an ounce. GOL/

* On the TSX, 17 issues advanced, while 202 issues declined in a 11.88-to-1 ratio in favor of the decliners, with 15.07 million shares traded.

* The largest percentage gainers on the TSX were Ballard Power Systems Inc BLDP.TO , which jumped 5.6%, and Cineplex Inc CGX.TO that rose 4.9% after it said all its theaters and entertainment venues will be operational by Friday.

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* Real estate investment company Summit Industrial Income REIT SMU_u.TO fell 3.6%, the most on the TSX, after it announced C$150 mln bought deal financing. The second biggest decliner was copper producer First Quantum Minerals Ltd FM.TO , down 2.5%.

* The most heavily traded shares by volume were Sun Life Financial Inc SLF.TO , Magna International Inc MG.TO and StageZero Life Sciences Ltd SZLS.TO .

* The TSX posted one new 52-week high and no new low.

* Across all Canadian issues there were nine new 52-week highs and no new low, with total volume of 29.97 million shares.

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