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TSX dips on U.S.-China trade worries; energy, pot stocks ease blow

Published 2019-11-21, 10:05 a/m
Updated 2019-11-21, 10:43 a/m
© Reuters.  TSX dips on U.S.-China trade worries; energy, pot stocks ease blow

Nov 21 (Reuters) - Canada's main stock index dipped on Thursday, as conflicting cues on U.S.-China trade discussions dampened sentiment, but gains in shares of energy and cannabis producers kept losses at bay.

* At 9:45 a.m. ET (1445 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was down 17.8 points, or 0.1%, at 16,988.02.

* Political tensions between the United States and China after a U.S. bill supporting Hong Kong protests dulled the mood.

* Nine of the index's 11 major sectors were lower with only the energy .SPTTEN and healthcare .GSPTTHC sectors trading in the black.

* Energy stocks climbed 0.6% as oil prices rose following a Reuters report that OPEC and its allies are likely to extend output cuts until mid-2020.

* U.S. crude CLc1 prices were up 1.2% a barrel, while Brent crude LCOc1 added 0.9%. O/R

* Healthcare stocks jumped nearly 4% as cannabis producers rallied after reports that the U.S. House Judiciary Committee approved a bill to legalize cannabis on a federal level in the United States. Canopy Growth Co WEED.TO , Aurora Cannabis ACB.TO and Hexo Corp HEXO.TO led advancers on the TSX, with gains ranging between 13% and 10%.

* On the TSX, 86 issues were higher, while 139 issues declined for a 1.62-to-1 ratio to the downside, with 22.48 million shares traded.

* OceanaGold Corp OGC.TO fell 4.7%, the most on the TSX, followed by Turquoise Hill Resources TRQ.TO , down 3.4%.

* The most heavily traded shares by volume were those of Aurora Cannabis, Green Organic Dutchman TGOD.TO and Canopy Growth.

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* Nine shares on the TSX posted new 52-week highs and two new lows.

* Across all Canadian issues there were 22 new 52-week highs and four new lows, with total volume of 38.76 million shares.

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