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Energy stocks push TSX lower as OPEC+ agrees to ease supply curbs

Published 2020-07-16, 10:21 a/m
© Reuters.
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July 16 (Reuters) - Canada's main stock index slipped on Thursday, weighed by the energy sector as oil prices fell after OPEC and other producers including Russia agreed to ease supply curbs from August.

* The energy sector .SPTTEN dropped 1.2% as U.S. crude CLc1 prices were down 1.2% a barrel and Brent crude LCOc1 lost 0.7%. O/R

* Also pressuring the index, the materials sector .GSPTTMT fell 0.5% after gold prices dipped as the dollar firmed. GOL/

* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 83.31 points, or 0.52%, at 15,980.02.

* Air Canada AC.TO fell 5.7%, the most on the TSX, followed by Bausch Health Companies Inc BHC.TO , down 3.1%.

* In a bright spot, data showed Canada added 1,042,900 jobs in June as business reopened after shutdowns related to COVID-19, led by hiring in the trade, transportation and utilities sector. The largest percentage gainers on the TSX were Jamieson Wellness Inc JWEL.TO , which jumped 2%, and Corus Entertainment Inc CJRb.TO , which rose 1.2%.

* On the TSX, 46 issues were higher, while 171 issues declined for a 3.72-to-1 ratio to the downside, with 7.54 million shares traded.

* The most heavily traded shares by volume were Air Canada, Bombardier Inc BBDb.TO and Karora Resources Inc KRR.TO .

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

* Across all Canadian issues there were 16 new 52-week highs and two new lows, with total volume of 18.05 million shares.

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