Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

TSX falls as Trump's tariff threats roil global markets

Published 2019-05-06, 10:22 a/m
© Reuters.  TSX falls as Trump's tariff threats roil global markets

May 6 (Reuters) - Canada's main stock index on Monday hit its lowest level in nearly a month after U.S. President Donald Trump threatened to raise tariffs on China, triggering a global rout in risky assets.

* At 10:13 a.m. ET (14:13 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 101.46 points, or 0.62 percent, at 16,392.97.

* Trump said on Sunday said he would hike U.S. tariffs on $200 billion worth of Chinese goods this week, marking a major escalation in tensions between the world's largest economies and quashing investor hopes of a trade deal that has sparked a rally in risk assets this year. Canada is leaning on the United States to help settle the dispute with China, which has started to block imports of vital Canadian commodities amid a dispute over a detained Huawei executive. The Canadian dollar weakened to a 10-day low against its U.S. counterpart and oil prices took a hit from the ongoing worries about trade. O/R

* All the 11 major sectors were lower, with heavy-weight energy index .SPTTEN falling 0.95 percent and financial sector .SPTTFS dropping 1 percent.

* The materials sector .GSPTTMT lost 0.7 percent as copper prices CMCU3 tumbled amid concerns about demand slowdown in China, the world's top metal consumer. MET/L

* The largest percentage gainers on the TSX were Air Canada AC.TO , which jumped 4.8 percent after reporting a surprise quarterly adjusted profit and port-operator Westshore Terminals Investment Corp WTE.TO , which rose 3.8 percent after price target lifts from brokers. Auto parts supplier Martinrea International MRE.TO fell 4.8 percent, the most on the TSX. The second biggest decliner was construction and engineering firm SNC-Lavalin Group Inc SNC.TO , down 4.7 percent.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

* On the TSX, 49 issues were higher, while 188 issues declined for a 3.84-to-1 ratio to the downside, with 19.99 million shares traded.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Sherritt International Corp S.TO and Bombardier B BBDb.TO .

* The TSX posted no new 52-week highs and two new lows.

* Across all Canadian issues there were six new 52-week highs and seven new lows, with total volume of 32 million shares.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.