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TSX flat as investors focus on G20 summit

Published 2019-06-28, 10:32 a/m
© Reuters.  TSX flat as investors focus on G20 summit
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June 28 (Reuters) - Canada's main stock index treaded water on Friday, as investors awaited progress on talks between the United States and China on the sidelines of a G20 meeting to resolve their protracted trade dispute.

* U.S. President Donald Trump said on Friday he hoped for productive talks with Chinese President Xi Jinping on a trade war that has cast a shadow on global growth, but said he had not made any promises about a reprieve from escalating tariffs. The uncertainty over trade has affected sentiment this week, and has set Canada's main index on pace to post its first weekly loss this month.

* At 9:52 a.m. ET (13:52 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 10.49 points, or 0.06%, at 16,318.22.

* Six of the index's 11 major sectors were lower, with the technology sector leading the losses with a fall of 0.8%.

* Canada's economy grew by 0.3% in April, compared with the previous month, on increases in mining, quarrying, and oil and gas extraction as well as stronger wholesale trade, Statistics Canada said on Friday. Other data showed that producer prices in Canada edged 0.1% higher in May from April on higher prices for energy and petroleum products, as well as autos and motor vehicle engines and parts. On the TSX, 119 issues were higher, while 108 issues declined for a 1.10-to-1 ratio favouring gainers, with traded volumes touching 16.09 million shares.

* The largest percentage gainer on the TSX was TransAlta Corp TA.TO , which jumped 4.6%, and Cascades Inc CAS.TO followed closely behind with a 3.5% rise after it won a bid to acquire some of the assets of Orchids Paper Products.

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* Novagold Resources NG.TO fell 4%, the most on the TSX, while the second biggest decliner was Shopify Inc SHOP.TO , down 2.5%.

* The most heavily traded shares by volume were Royal Nickel RNX.TO , Yamana Gold Inc YRI.TO and Aurora Cannabis ACB.TO .

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

* Across all Canadian issues, there were three new 52-week highs and two new lows, with total volumes touching 25.24 million shares.

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