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TSX down for second day as oil falls on growth worries

Published 2019-03-08, 10:13 a/m
© Reuters.  TSX down for second day as oil falls on growth worries
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March 8 (Reuters) - Canada's main stock index dropped for a second day, with oil prices plunging nearly 3 percent after weak China trade data and U.S. jobs growth report sparked fears of slowing global growth.

* The energy sector .SPTTEN dropped 3.8 percent, leading the eight decliners among the 11 major sectors. U.S. crude CLc1 prices were down 3 percent, while Brent crude LCOc1 lost 2.8 percent, with surging U.S. supply also unsettling markets. O/R

* Global stock markets started on the back foot after data showed China's exports tumbled the most in three years in February while imports fell for a third straight month. Another set of numbers from the United States showed job growth almost stalled in February, with the economy creating only 20,000 jobs, while economists polled by Reuters had forecast an increase of 180,000 jobs. Both reports added to a weak sentiment even as Canada added far more jobs than expected in February, cooling market expectations that the Bank of Canada could cut interest rates by the end of the year. At 10:00 a.m. ET (15:00 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 150.23 points, or 0.94 percent, at 15,906.28.

* The interest-rate sensitive financials sector .SPTTFS slipped 0.6 percent, while the industrials sector .GSPTTIN fell 0.9 percent.

* The materials sector .GSPTTMT , which includes precious and base metals miners, added 0.7 percent as gold futures GCc1 rose 1 percent to $1,297.2 an ounce. GOL/

* The largest percentage gainers on the TSX were Yamana Gold Inc YRI.TO , which jumped 5.1 percent, followed by a 4 percent rise in Kinross Gold K.TO .

* Enghouse Systems Ltd ENGH.TO fell 12.7 percent, the most on the TSX, after reporting quarterly results. The second biggest decliner was MEG Energy Corp MEG.TO , down 6.9 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Lightspeed Pos Inc LSPD.TO and Yamana Gold Inc YRI.TO .

* On the TSX, 55 issues were higher, while 181 issues declined for a 3.29-to-1 ratio to the downside, with 20.37 million shares traded.

* The TSX posted one new 52-week high and one new low.

* Across all Canadian issues there were 10 new 52-week highs and four new lows, with total volume of 34.73 million shares.

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