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CANADA STOCKS-TSX slips after surprise drop in Aug jobs

Published 2018-09-07, 10:31 a/m
© Reuters.  CANADA STOCKS-TSX slips after surprise drop in Aug jobs
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Sept 7 (Reuters) - Canada's main stock index fell on Friday after domestic data showed a surprise decline in jobs in August and as trade and tariff worries continued to weigh.

* At 9:36 a.m. ET (13:36 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 95.84 points, or 0.6 percent, at 16,005.1.

* TSX has closed lower in the past five sessions in a row and is set for biggest weekly decline in 24 weeks at current level.

* Canadian economy unexpectedly shed 51,600 jobs in August after two months of gains, lifting the unemployment rate to 6 percent. Reuters poll of analysts had predicted a gain of 5,000 jobs and unemployment rate to rise to 5.9 percent. U.S. stocks indexes also fell after a strong U.S. jobs data underscored tightening labor market conditions and cemented expectations for the Federal Reserve increasing interest rates further. .N

* On the trade front, U.S. and Canadian negotiators pushed ahead in grinding talks to rescue the NAFTA, but a few stubborn issues stood in the way of a deal. Investors were also bracing themselves for a fresh salvo of Sino-U.S. tariffs as public comment period for proposed U.S. tariffs on an additional $200 billion worth of Chinese imports ended at midnight on Thursday. All of the index's 11 major sectors fell, led by the energy sector's .SPTTEN 1.7 percent alongside a slide in oil prices.

* U.S. crude CLc1 prices were down 1 percent a barrel, while Brent crude LCOc1 lost 0.5 percent. O/R

* The materials sector .GSPTTMT was the second-biggest lag on the main index with its 1 percent fall.

* Gold futures GCc1 fell 0.4 percent to $1,193.1 an ounce, while copper prices CMCU3 advanced 0.1 percent to $5,935.5 a tonne. GOL/ MET/L

* The financials sector .SPTTFS slipped 0.3 percent, while industrials .GSPTTIN edged 0.2 percent lower.

* The largest percentage gainer on the TSX was Enghouse Systems ENGH.TO , which jumped 3.3 percent after its quarterly results, followed by Sierra Wireless SW.TO that rose 2.3 percent.

* Transcontinental Inc TCLa.TO fell 5.2 percent, the most on the TSX, after its quarterly results. The second-biggest decliner was Cenovus Energy CVE.TO , down 4.2 percent.

* The most heavily traded shares by volume were cannabis companies Hexo Corp HEXO.TO , Aurora Cannabis ACB.TO and Aphria Inc APH.TO .

* On the TSX, 35 issues were higher, while 201 issues declined for a 5.74-to-1 ratio to the downside, with 13.21 million shares traded.

* The TSX posted one new 52-week highs and 17 new lows.

* Across all Canadian issues, there were nine new 52-week highs and 34 new lows, with total volume of 22.23 million shares.

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