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CANADA STOCKS-TSX falls as U.S. crude stockpile, virus cases hit energy shares

Published 2020-10-28, 09:58 a/m
Updated 2020-10-28, 10:00 a/m
© Reuters.

Oct 28 (Reuters) - Canada's main stock index fell on Wednesday, weighed by energy stocks as a surge in U.S. crude stockpile and rising coronavirus cases in the United States and Europe raised fears of a supply glut and weaker fuel demand.

* The energy sector .SPTTEN dropped 3% as U.S. crude CLc1 prices were down 5.4% a barrel, while Brent crude LCOc1 lost 4.7%. O/R

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 233.4 points, or 1.46%, at 15,787.54.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 2.7%

** Fortuna Silver Mines Inc FVI.TO fell 6.5%, the most on the TSX, while Teranga Gold Corp TGZ.TO slumped 6%.

* The country's central bank is expected to announce its interest rate decision at 10:00 a.m. ET, and hold it at 0.25%.

* On the TSX, three issues were higher, while 220 issues declined for a 73.33-to-1 ratio to the downside, with 20.15 million shares traded.

* The largest percentage gainers on the TSX were Firstservice Corp FSV.TO , which jumped 2.2% and Celestica Inc CLS.TO , which rose 0.7% after both companies posted upbeat third-quarter results.

* The most heavily-traded shares by volume were Bank of Montreal BMO.TO , Bombardier Inc BBDb.TO , and Royal Bank of Canada RY.TO .

* The TSX posted no new 52-week highs and one new low.

* Across all Canadian issues there were one new 52-week highs and nine new lows, with a total volume of 35.78 million shares.

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