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TSX falls on second virus wave fears, dismal trade data

Published 2020-06-18, 10:28 a/m
© Reuters.

June 18 (Reuters) - Canada's main stock index fell on Thursday as a rise in coronavirus cases in some U.S. states and China dampened hopes of a swift economic recovery, with poor domestic trade data further denting sentiment.

* New coronavirus infections rose sharply in six U.S. states, while authorities in Beijing ramped up efforts to contain a new coronavirus outbreak. Canada's wholesale trade plunged a record 21.6% in April as the COVID-19 pandemic shut down businesses across the country, Statistics Canada data showed. At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 81.16 points, or 0.53%, at 15,347.53.

* The energy sector .SPTTEN dropped 0.5% as U.S. crude CLc1 prices were down 0.4% a barrel, while Brent crude LCOc1 was unchanged. O/R

* The financials sector .SPTTFS slipped 1.2%. The industrials sector .GSPTTIN fell 0.7%.

* The materials sector .GSPTTMT , which includes precious and base metals miners, lost 0.2% as gold futures GCc1 fell 0.4% to $1,721.9 an ounce. GOL/

* On the TSX, 45 issues were higher, while 176 issues declined for a 3.91-to-1 ratio to the downside, with 14.49 million shares traded.

* The largest percentage gainer on the TSX was Shopify Inc SHOP.TO , which jumped 2.7% after RBC raised its target price for the stock, followed by Empire Company Ltd EMPa.TO , which rose 2.3% after its quarterly results beat expectations.

* Hexo Corp HEXO.TO fell 3.6%, the most on the TSX, after the pot producer announced the sale of its Niagara facility.

* The second-biggest decliner was Brookfield Business Partners L.P BBU_u.TO , down 3.2%.

* The most heavily traded shares by volume were BCE Inc BCE.TO , down 0.9%, Bombardier Inc BBDb.TO , down 1%, and Hexo Corp HEXO.TO , down 3.6%.

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

* Across all Canadian issues there were seven new 52-week highs and one new low, with total volume of 24.84 million shares.

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