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CANADA STOCKS-TSX falls as declining oil prices weigh on energy shares

Published 2018-11-09, 10:12 a/m
Updated 2018-11-09, 10:20 a/m
© Reuters.  CANADA STOCKS-TSX falls as declining oil prices weigh on energy shares

Nov 9 (Reuters) - Canada's main stock index fell on Friday and set for its biggest one-day percentage dip in nearly two weeks as energy shares were pressured by a plunge in oil prices.

* At 9:35 a.m. ET (1435 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was down 101.32 points, or 0.66 percent, at 15,256.15.

* The energy sector .SPTTEN dropped 3.1 percent, as prices of oil, one of Canada's biggest export commodities, fell to multi-month lows on increased global supply and trade worries. O/R

* U.S. crude CLc1 prices fell 1.6 percent and Brent crude LCOc1 lost 1.2 percent.

* Seven of the index's 11 major sectors were lower.

* Investors also weighed the latest development in the USMCA trade pact, as Canada was at odds with the United States' attempts to change the text of their September deal and the issue may have to be referred to ministers to settle. The materials sector .GSPTTMT , which includes precious and base metals miners, lost 1.6 percent after gold and copper prices fell after the U.S. Federal Reserve stuck to its tighter monetary stance. GOL/ MET/L

* The Canada Pension Plan Investment Board (CPPIB), the country's biggest public pension fund, reported slower growth in the second quarter, hurt by a strengthening Loonie. On the TSX, 51 issues were higher, while 188 issues declined for a 3.69-to-1 ratio to the downside, with traded volume touching 14.47 million shares.

* Top percentage gainers on the TSX were shares of Enerflex Ltd EFX.TO , which jumped 8.7 percent, followed by a 5.4 percent gain in Bombardier BBDb.TO .

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* Kinaxis Inc KXS.TO fell 14.8 percent, the most on the TSX, after reporting quarterly results. The second biggest decliner was Sierra Wireless SW.TO , down 14.4 percent, after reporting a quarterly loss.

* The most heavily traded shares by volume were Red Eagle Mining R.TO , Bombardier and Aurora Cannabis ACB.TO .

* The TSX posted two new 52-week highs and 19 new lows.

* Across all Canadian issues, there were four new 52-week highs and 40 new lows, with total volume touching 25.40 million shares.

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