Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

TSX on course to post sharpest weekly fall as trade worries linger

Published 2019-05-10, 10:36 a/m
© Reuters.  TSX on course to post sharpest weekly fall as trade worries linger
GSPTSE
-
BBDb
-
VRN
-
CEU
-
GSPTTCD
-
GSPTTMT
-
SPTTEN
-
RBA
-
TSGI
-
KXS
-
ACB
-

May 10 (Reuters) - Canada's main stock index fell on Friday, as investors were worried about the U.S.-China trade dispute, with Washington raising tariffs on Chinese goods even as the two sides tried to strike a last-minute deal.

* At 10:01 a.m. ET (14:01 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 116.6 points, or 0.71%, at 16,205.15. The index was on track to post its biggest weekly decline since mid-December.

* The declines mirrored a risk-off mode across global stocks on fears that worsening trade tensions between the two largest economies in the world would dent global growth.

* The United States on Friday hiked levies on $200 billion worth of Chinese goods and Beijing threatened to retaliate, although negotiators agreed to stay at the table in Washington for a second day. The worries overshadowed encouraging domestic data that showed the Canadian economy added a record 106,500 jobs in April, which reinforces market expectations that the Bank of Canada will keep rates steady for now. The April gain far outstripped analysts' expectations of 10,000 jobs. All the 11 major S&P sectors were lower, led by a 1.1% fall in the consumer discretionary index .GSPTTCD . Gaming company Stars Group Inc TSGI.TO fell 4.6%, giving back gains after a near 15% rise on Thursday.

* The energy sector .SPTTEN and materials sector .GSPTTMT , heavyweights on the main index, fell about 0.9% each.

* The largest percentage gainer on the TSX was Kinaxis Inc KXS.TO , which rose 11.7% after better-than-expected quarterly results. This was followed by a 7.7% gain for CES Energy Solutions Corp CEU.TO .

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

* Ritchie Bros. Auctioneers Inc RBA.TO fell 6.6%, the most on the TSX, after its first-quarter profit missed estimates.

* The most heavily traded shares by volume were Bombardier Inc BBDb.TO , Crescent Point Energy Corp CPG.TO and Aurora Cannabis Inc ACB.TO .

* On the TSX, 65 issues were higher, while 167 issues declined for a 2.57-to-1 ratio to the downside, with traded volumes touching 35.44 million shares.

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

* Across all Canadian issues, there were eight new 52-week highs and 14 new lows, with total volumes touching 51.73 million shares.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.