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CANADA STOCKS-TSX falls as weaker bullion prices, materials drag

Published 2021-03-03, 10:20 a/m
© Reuters.

March 3 (Reuters) - Canada's commodity-heavy main stock index fell on Wednesday, as a decline in bullion prices and material stocks offset gains in oil prices and optimism over an economic rebound from vaccination rollouts and a U.S. fiscal package.

* At 9:53 a.m. ET (14:53 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 79.22 points, or 0.43%, at 18,342.38.

* The value of Canadian building permits rose by 8.2% to a record level of C$9.9 billion ($7.8 billion) in January from December, Statistics Canada said on Wednesday. Eight of the index's 11 major sectors were lower, with mining stocks .GSPTTMT falling the most.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 2.1% with gold futures GCc1 falling 1.2% to $1,713 an ounce as rising U.S. bond yields and firm equities dull its appeal. GOL/ MET/L

* Osisko Mining Inc OSK.TO fell 5.4%, the most on the TSX. The second biggest decliner was Torex Gold Resources Inc TXG.TO , down 4.7%.

* The energy sector .SPTTEN climbed 2.1% as U.S. crude CLc1 prices were up 1.7% a barrel, while Brent crude LCOc1 added 1.4%. O/R

* The financials sector .SPTTFS gained 0.2%. The industrials sector .GSPTTIN fell 0.1%.

* On the TSX, 81 issues were higher, while 134 issues declined for a 1.65-to-1 ratio to the downside, with 34.19 million shares traded.

* The largest percentage gainers on the TSX were Laurentian Bank of Canada LB.TO and Sleep Country Canada Holdings ZZZ.TO , which jumped 6.1% and 5.4% respectively after earnings beat.

* The most heavily traded shares by volume were The Supreme Cannabis Co Inc FIRE.TO , down 5.2%; Suncor Energy SU.TO , up 2.9% and Rogers Communications Inc RCIb.TO , down 0.4%.

* The TSX posted 11 new 52-week highs and no new lows.

* Across all Canadian issues there were 39 new 52-week highs and 4 new lows, with total volume of 73.06 million shares.

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