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CANADA STOCKS-TSX retreats as oil prices slide, global demand for stocks ebbs

Stock MarketsFeb 13, 2018 10:10
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CANADA STOCKS-TSX retreats as oil prices slide, global demand for stocks ebbs

By Nichola Saminather

TORONTO, Feb 13 (Reuters) - Canada's main stock index edged lower on Tuesday with losses led by industrials and energy companies, as oil prices fell and appetite for global stocks faltered.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE opened down 35.7 points, or 0.23 percent, and was trading 39.72 points, or 0.26 percent, lower at 15,202.16 at 09:51 a.m. EST (1451 GMT).

* On Monday, the index posted its biggest one-day gain since July 2016, with all 10 sectors in positive territory, as global stocks, oil and metals rebounded following a brutal week. The world stocks index .MIWD00000PUS slipped almost 0.1 percent on Tuesday, and the U.S. S&P 500 index fell 0.5 percent.

* Energy companies Baytex Energy BTE.TO , Crew Energy CR.TO and Precision Drilling PD.TO were the biggest decliners on the index, with losses of 4 percent, 3.7 percent and 3.1 percent respectively.

* U.S. crude futures dropped 1.25 percent to $58.57.

* NuVista Energy NVA.TO bucked the energy trend to rise 5 percent, the second-biggest gain on the index, after Eight Capital and Raymond James raised their target prices.

* Mining company First Quantum Minerals FM.TO was the biggest gainer, jumping almost 5 percent after Eight Capital and Raymond James raised their target prices, although Berenberg cut its target.

* Copper futures CMCU3 rose 2.2 percent to $6,985 a tonne. Gold XAU= was flat at $1,323.31 an ounce, while silver retreated 0.4 percent to $16.48 an ounce.

* First Quantum and Whitecap Resources WCP.TO were the most actively traded stocks on the index.

* There were 95 advancing stocks and 139 declining ones on the index.

CANADA STOCKS-TSX retreats as oil prices slide, global demand for stocks ebbs
 

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