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CANADA STOCKS-TSX slides as U.S.-China trade tensions escalate

Published 2018-06-19, 10:10 a/m
© Reuters.  CANADA STOCKS-TSX slides as U.S.-China trade tensions escalate
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June 19 (Reuters) - Canada's main stock index slipped on Tuesday as a trade spat between the world's two biggest economies, the United States and China, intensified.

* At 9:33 a.m. ET (1333 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was down 99.28 points, or 0.61 percent, at 16,284.35.

* U.S. President Donald Trump threatened to slam a 10-percent tariff on $200 billion of Chinese goods and Beijing warned it would retaliate. The main index was also weighed down by the financials, materials and energy sectors.

* Eight of the index's 11 major sectors were lower.

* The financials sector .SPTTFS dipped 0.3 percent and the materials group .GSPTTMT shed 1.2 percent.

* The energy sector .SPTTEN dropped 1.2 percent as oil prices were hit by flaring tensions over U.S.-China trade. O/R

* The Canadian dollar weakened to a nearly one-year low against its U.S. counterpart as an escalating trade dispute between the United States and China pressured global stock and commodity markets. A working group will present recommendations on enhancements to the Canadian overnight risk-free rate by the end of the year, and the Bank of Canada will seek broader input on interest rate benchmark reform, a top official said on Monday. Copper prices hit a three-week low on Sino-U.S. trade worries. MET/L

* On the TSX, 37 issues were higher, while 199 issues declined for a 5.38-to-1 ratio to the downside, with 9.19 million shares traded.

* The top gainer on the TSX was Baytex Energy BTE.TO , which jumped 2.7 percent, while Raging River Exploration - up 2.1 percent - was the second biggest gainer on the TSX. The two companies announced a merger on Monday. The top decliner on the TSX was First Quantum Minerals FM.TO , which fell 5.8 percent. The next biggest loser was Teck Resources Ltd TECKb.TO with a 3.2 percent slide.

* The most heavily traded shares by volume were Baytex Energy Co, Bombardier BBDb.TO and Arizona Mining AZ.TO .

* The TSX posted one new 52-week high and one new low.

* Across Canadian issues there were six new 52-week highs and six new lows, with a total volume of 15.58 million shares.

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