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TSX drops as weak gold prices weigh on materials sector

Published 2019-06-10, 09:51 a/m
© Reuters.  TSX drops as weak gold prices weigh on materials sector

June 10 (Reuters) - Canada's main stock index edged lower on Monday, as the shares of material companies fell due to a drop in gold prices.

* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was down 13.31 points, or 0.08%, at 16,217.65.

* Seven of the index's 11 major sectors were lower, led by a 1.2% drop in the materials sector .GSPTTMT .

* Gold prices retreated from a 14-month peak hit in the previous session after a deal between the United States and Mexico to avert a tariff war led investors to ditch the safe-haven metal for riskier assets. GOL/

* In a bright spot, the energy sector .SPTTEN climbed 0.3% as oil prices showed signs of steadying after major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal. O/R

* The Canadian dollar was little changed against its broadly stronger U.S. counterpart, pulling back from an earlier three-month high reached after the United States and Mexico announced a deal on immigration. CAD/

* On the TSX, 114 issues were higher, while 115 issues declined for a 1.01-to-1 ratio to the downside, with 8.64 million shares traded.

* The largest percentage gainers on the TSX were shares of Superior Plus Corp SPB.TO , which jumped 4.6%, followed by Cronos Group Inc CRON.TO , which rose 4.5%.

* Gold miner Kirkland Lake Gold KL.TO dropped 4.7%, the most on the TSX, followed by shares of Iamgold Corp IMG.TO which fell 3.9%.

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* The most heavily traded shares by volume were Stornoway Diamond Corp SWY.TO , Encana Corp ECA.TO and Aurora Cannabis ACB.TO .

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

* Across all Canadian issues there were 19 new 52-week highs and nine new lows, with total volume of 15.41 million shares.

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