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Toronto stocks inch lower as coronavirus fears persist

Published 2020-02-25, 10:15 a/m
© Reuters.  Toronto stocks inch lower as coronavirus fears persist

Feb 25 (Reuters) - Canada's main stock index slightly extended declines on Tuesday, a day after it recorded its worst session in six months on widespread concerns over the coronavirus outbreak.

* At 9:51 a.m. ET (14:51 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 48.58 points, or 0.28%, at 17,514.16.

* The index had fallen in tandem with global stocks after the coronavirus outbreak spread to countries outside China, triggering fears of a pandemic. MKTS/GLOB

* The energy sector .SPTTEN dropped 1.2% as oil prices fell amid concerns over sustained demand in the face of economic disruptions from the virus. O/R

* Secure Energy Services Inc SES.TO fell 7.9%, the most on the TSX, after it logged a drop in its quarterly revenue. The second biggest decliner was Enerflex Ltd EFX.TO , down 5.2% after CIBC cut the stock's target price. The largest percentage gainers on the TSX were Bombardier B BBDb.TO , which jumped 5.0%, and Ballard Power BLDP.TO , which rose 4.3%.

* The financials sector .SPTTFS slipped 0.6%, while the industrials sector .GSPTTIN rose 0.1%. Bank of Montreal BMO.TO and Bank of Nova Scotia BNS.TO , two of Canada's biggest banks, beat analyst estimates for profit on Tuesday. On the TSX, 84 issues were higher, while 138 issues declined for a 1.64-to-1 ratio to the downside, with 29.73 million shares traded.

* The most heavily traded shares by volume were Chinook Energy CKE.TO , Manulife Financial MFC.TO and Bombardier BBDb.TO .

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

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* Across all Canadian issues there were 10 new 52-week highs and 31 new lows, with total volume of 54.24 million shares.

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