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CANADA STOCKS-TSX falls as NAFTA optimism dulls

Published 2018-08-31, 10:10 a/m
© Reuters.  CANADA STOCKS-TSX falls as NAFTA optimism dulls
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Aug 31 (Reuters) - Canada's main stock index slipped on Friday following a report that a North American Free Trade Agreement (NAFTA) deal with the United States might not be concluded by the end of the day.

* At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 26.22 points, or 0.16 percent, at 16,345.33.

* Canada and the United States will make a final push to iron out differences on a pact to revamp the NAFTA by the Friday deadline set by U.S. President Donald Trump. However, Canada's government officials have expressed concern that a final trade pact will not be reached within the deadline, according to a Globe and Mail report.

* There was a rebound in global trade worries following a report on Thursday that Trump was preparing to step up a trade war with Beijing by imposing tariffs on $200 billion more in Chinese imports by end of next week. Seven of the index's 11 major sectors were lower, led by the energy sector's 0.6 percent drop as oil prices were pressured by trade worries.

* Canadian Natural Resources CNQ.TO fell 0.8 percent and Cenovus Energy CVE.TO declined 1.3 percent, among biggest lags on the energy index.

* U.S. crude CLc1 prices were down 0.3 percent a barrel, while Brent crude LCOc1 lost 0.2 percent. O/R

* The heavyweight financials sector .SPTTFS slipped 0.2 percent. Biggest drags on the index were Royal Bank of Canada RY.TO , Bank of Montreal BMO.TO and Manulife Financial Corp's MFC.TO declines between 0.3-0.8 percent.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.1 percent as gold futures GCc1 rose 0.4 percent to $1,202.5 an ounce. Copper prices CMCU3 declined 0.6 percent to $6,027.5 a tonne. GOL/ MET/L

* On the TSX, 90 issues were higher, while 146 issues declined for a 1.62-to-1 ratio to the downside, with 9.42 million shares traded.

* The largest percentage gainers on the TSX were cannabis companies Aphria Inc APH.TO , which jumped 2.6 percent and Canopy Growth Co WEED.TO , which rose 2.5 percent.

* Trican Well Service TCW.TO fell 3 percent, the most on the TSX. The second-biggest decliner was BRP Inc DOO.TO , down 2.3 percent.

* The most heavily traded shares by volume were marijuana companies Cronos Group Inc CRON.TO , Aurora Cannabis ACB.TO and Aphria Inc APH.TO .

* The TSX posted two new 52-week highs and no new lows.

* Across all Canadian issues there were 14 new 52-week highs and six new lows, with total volume of 15.93 million shares.

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