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CANADA STOCKS-TSX hits two-week low as trade war threat weighs

Published 2018-03-02, 05:25 p/m
© Reuters.  CANADA STOCKS-TSX hits two-week low as trade war threat weighs
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TORONTO, March 2 (Reuters) - Canada's main stock index slipped to a two-week low on Friday, ending the week with a 1.6 percent decline, as the threat of a global trade war weighed on energy and industrial shares.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended down 9.36 points, or 0.06 percent, at 15,384.59, its lowest close since Feb. 14.

* The energy group retreated 0.4 percent, with Suncor Energy down 2.1 percent at $40.85.

* U.S. crude oil CLc1 settled 0.4 percent higher but posted its first weekly fall in three weeks on fears U.S. plans to impose tariffs on steel and aluminum could squeeze economic growth and jitters about rising U.S. crude production. U.S. President Donald Trump unveiled the tariffs onThursday but did not make clear whether they would apply toCanada, which is the largest supplier of both steel and aluminum to the United States.

* Canada's economy could also be impacted by talks with theUnited States and Mexico to revamp the North American Free TradeAgreement. Canada sends 75 percent of its exports to the UnitedStates.

* Shares of trade-sensitive auto parts and railroadcompanies added to Thursday's declines. Magna International Inc MG.TO fell 1.6 percent to C$67.60 and Canadian Pacific RailwayLtd CP.TO retreated nearly 1 percent to C$224.75.

* The overall industrials group slipped 0.4 percent, whilethe financials group, which accounts for more than one-third ofthe weight of the TSX, declined 0.2 percent.

* The materials group, which includes precious and basemetals miners and fertilizer companies, added 0.2 percent.

* Gold futures GCc1 rose 1.2 percent to $1,318.9 an ounce,boosted by investor demand for safer investments. GOL/

* The largest percentage gainer on the TSX was Sleep Country ZZZ.TO , which rose 15.4 percent after it reportedfourth-quarter results after the close on Thursday.

* The TSX posted 4 new 52-week highs and 12 new lows, whilefive of the index's 10 main groups ended lower.

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