CANADA STOCKS-TSX flat as material losses offset by energy gains

Published 2019-08-09, 10:08 a/m
© Reuters.  CANADA STOCKS-TSX flat as material losses offset by energy gains
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Aug 9 (Reuters) - Canada's main stock index treaded water on Friday, as gains in shares of energy companies were countered by losses in materials shares.

* Also keeping investors on edge was a report that Washington was delaying a decision about allowing some trade between U.S. companies and China's telecom equipment maker Huawei again. Oil prices were supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest since the financial crisis of 2008. O/R

* The energy sector .SPTTEN climbed 0.8%, the most among the major S&P sectors. O/R

* Official data on Friday showed Canada's economy shed a net 24,200 jobs in July, driven by a decline in wholesale and retail trade, as Canada's job market remained in a holding pattern for the third consecutive month. At 9:49 a.m. ET (1349 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 10.16 points, or 0.06%, at 16,394.37.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.8% as gold futures GCc1 fell 0.1% to $1,496.1 an ounce.

* On the TSX, 108 issues were higher, while 124 issues declined for a 1.15-to-1 ratio to the downside, with 19.55 million shares traded.

* The largest percentage gainer on the TSX was Altus Group AIF.TO , which jumped 11.6% after its quarterly results beat analysts' estimates.

* Sleep Country ZZZ.TO followed closely behind with an 11% rise after reporting quarterly results.

* CCL Industries Inc's class B shares CCLb.TO tumbled 9%, the most on the TSX, after its second-quarter revenue missed estimates.

* The second-biggest decliner was Stantec Inc STN.TO , down 7.5%, after multiple brokerages lowered their price target on the stock.

* The most heavily traded shares by volume were Lydian International Ltd LYD.TO , New Gold Inc NGD.TO and Horizon North Logistics Inc HNL.TO .

* The TSX posted nine new 52-week highs and six new lows.

* Across all Canadian issues, there were 22 new 52-week highs and 14 new lows, with total volume of 35.71 million shares.

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