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CANADA STOCKS-Energy stocks push TSX lower as weak oil prices weigh

Published 2020-08-14, 10:24 a/m
© Reuters.

Aug 14 (Reuters) - Canada's main stock index fell on Friday, hurt by energy stocks that fell after crude prices dropped on doubts over a recovery from the coronavirus crisis.

* Oil edged further below $45 a barrel on Friday pressured by doubts about a demand recovery and rising supply. The energy sector .SPTTEN dropped 0.6% as U.S. crude CLc1 and Brent crude LCOc1 prices lost about 0.5% each. O/R

* At 09:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 68.49 points, or 0.41%, at 16,461.57.

* Limiting losses on the index was data that showed Canadian manufacturing sales rose by a record 20.7% in June as many factories operated at a much higher capacity than in May. The Canadian dollar weakened against its U.S. counterpart on Friday as investor caution about taking on more risk offset stronger-than-expected domestic manufacturing data. The materials sector .GSPTTMT , which includes precious metal miners, lost 0.8% as gold futures GCc1 slipped. GOL/

* On the TSX, 47 issues were higher, while 168 issues declined for a 3.57-to-1 ratio to the downside, with 15.05 million shares traded.

* The largest percentage gainer on the TSX was Spin Master Corp TOY.TO , which jumped 4.2%, after Jefferies raised its target price on the children's entertainment company.

* Specialty packaging company Intertape Polymer Group ITP.TO , which rose 2.7%, after BMO raised its price target on the stock.

* The largest decliners were Algonquin Power & Utilities Corp AQN.TO , down 4.1%, and Sienna Senior Living Inc SIA.TO , down 2.7%, after the companies reported their quarterly results.

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* The most heavily traded shares by volume were Zenabis Global ZENA.TO , Enbridge ENB.TO and Magna International MG.TO .

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

* Across all Canadian issues there were seven new 52-week highs and one new low, with total volume of 35.96 million shares.

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