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CANADA STOCKS-TSX led higher by financial stocks

Published 2018-08-13, 10:37 a/m
© Reuters.  CANADA STOCKS-TSX led higher by financial stocks
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Aug 13(Reuters) - Canada's main stock index edged higher on Monday as gains in financial stocks outweighed the broader sentiment arising from Turkey's worsening currency crisis.

* At 9:52 a.m. ET (13:52 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 19.56 points, or 0.12 percent, at 16,346.07.

* Global markets have been rattled by a plunging lira as investors fled to safer assets such as government bonds and the U.S. dollar. Turkey President Tayyip Erdogan's increasing control over the economy and deteriorating relations with the United States has sent the lira tumbling 40 percent this year.

* The financials sector .SPTTFS , which holds about a third of the main index's weight, gained 0.2 percent. Toronto-Dominion Bank TD.TO , Royal Bank of Canada RY.TO and Bank of Nova Scotia BNS.TO rose between 0.3 percent and 0.6 percent and provided the biggest boost to the index.

* Leading the declines was materials index .GSPTTMT , which fell 0.4 percent as a stronger dollar pressured gold prices in the backdrop of a plunging Turkish lira. GOL/

* Also weighing on the materials index were shares of First Majestic Silver Corp FR.TO , which fell 10 percent after the miner reported a larger-than-expected loss in the second quarter. Gold futures GCc1 fell 0.9 percent to $1,200.5 an ounce, while copper prices CMCU3 declined 0.2 percent to $6,180 a tonne. GOL/ MET/L

* The energy sector .SPTTEN climbed 0.4 percent led by about a 0.5 pct gain in shares of Suncor Energy SU.TO and Pembina Pipeline Corp PPL.TO .

* Oil prices slipped on trade worries and troubled emerging markets dented the outlook for fuel demand. U.S. crude CLc1 prices were down 0.5 percent a barrel, while Brent crude LCOc1 lost 0.3 percent. O/R

* The largest percentage gainers on the TSX were Intertape Polymer ITP.TO , which jumped 6.6 percent after the packaging company posted its second-quarter results, and Canadian Apartment Properties REIT CAR_u.TO , which rose 2.6 percent.

* First Majestic Silver Corp FR.TO fell the most on the TSX and the second-biggest decliner was The Stars Group TSGI.TO , down 7.3 percent after the software company posted its quarterly results.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Trinidad Driling TDG.TO and Yamana Gold Inc YRI.TO .

* On the TSX, 135 issues were higher, while 103 issues declined for a 1.31-to-1 ratio favouring gainers, with 15.06 million shares traded.

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

* Across all Canadian issues there were eight new 52-week highs and 26 new lows, with total volume of 26.39 million shares.

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