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CANADA STOCKS-TSX falls as oil prices slip to seven-month low, trade worries linger

Published 2019-08-07, 10:01 a/m
© Reuters.  CANADA STOCKS-TSX falls as oil prices slip to seven-month low, trade worries linger
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Aug 7 (Reuters) - A tumble in shares of energy companies pressured Canada's main stock index on Wednesday, as crude prices slumped to their lowest in seven months.

* Sentiment was also pressured by worries about the impact of a long-drawn U.S.-China trade war on global growth, with yields on U.S. and Germany bonds plummeting as investors sought safe-haven assets. Financials .SPTTFS slipped 0.9% in early trade.

* Only the materials sector .GSPTTMT was trading higher, up 2.3%, as gold's role as a safe-haven asset propelled the metal to a six-year peak.

* The energy sector .SPTTEN dropped 1.5% as U.S. crude CLc1 prices were down 2.8% a barrel, while Brent crude LCOc1 lost 2.5%. O/R

* Oil prices were weighed down by the deepening trade tensions that weighed on the outlook for energy demand. O/R

* Energy companies were the biggest decliners on the TSX. Nuvista Energy NVA.TO dropped 8.5%, while Ensign Energy Services Inc ESI.TO slipped 5.6%.

* At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 58.22 points, or 0.36%, at 16,091.27.

* On the TSX, 58 issues were higher, while 176 issues declined for a 3.03-to-1 ratio to the downside, with 29.45 million shares traded.

* The largest percentage gainers on the TSX were gold miners B2gold Corp BTO.TO , which jumped 13.4%, and Semafo Inc SMF.TO , which rose 9.3%.

* The most heavily traded shares by volume were Enbridge Inc ENB.TO , Troilus Gold Corp TLG.TO and B2gold Corp BTO.TO .

* The TSX posted 23 new 52-week highs and 20 new lows.

* Across all Canadian issues there were 109 new 52-week highs and 49 new lows, with total volume of 50.78 million shares.

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