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CANADA STOCKS-TSX edges lower as materials weigh

Published 2018-04-25, 10:35 a/m
Updated 2018-04-25, 10:40 a/m
© Reuters.  CANADA STOCKS-TSX edges lower as materials weigh

April 25 (Reuters) - Canada's main stock index edged lower on Wednesday, as worries over rising U.S. yields weighed on materials stocks.

* At 9:47 a.m. ET (1347 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE fell 16.22 points, or 0.1 percent, to 15,460.78.

* The yield on 10-year U.S. Treasuries US10YT=RR , a global benchmark for interest rates, rose above 3 percent, weighing on gold prices.

* The materials group, which includes precious and base metals miners and fertilizer companies, edged down 0.6 percent tracking lower gold prices. The biggest drags to the index were Teck Resources TECKb.TO which declined 3.8 percent and First Quantum Minerals FM.TO , down 3 percent.

* Gold was also partly hurt by a strong U.S. dollar. GOL/

* Brent crude futures LCOc1 dipped to $73.72 per barrel, while U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $67.81 a barrel, up 0.2 pct O/R

* Five of Canada's 10 main index sectors were in the red.

* The TSX posted one new 52-week high and three new lows. Across all Canadian issues, there was one new 52-week high and 14 new lows.

* The largest percentage gainer on the TSX was Arc Resources ARX.TO , while the largest decliner was Teck Resources.

* Among the most active Canadian stocks by volume were Cenovus Energy CVE.TO , which declined 0.7 percent after the company posted a bigger-than-expected quarterly loss as near-full pipelines increased transportation costs and reduced profit margins. Shares of Katanga Mining KAT.TO and Aurora Cannabis ACB.TO were also among the most actively traded on the Canadian index.

* Volume on the TSX index was 16.09 million shares, while the total volume on Wednesday was 27.43 million shares.

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