(Reuters) - Canada's main stock index fell on Thursday as a rise in coronavirus cases in some U.S. states and China dampened hopes of a swift economic recovery, with poor domestic trade data further denting sentiment.
New coronavirus infections rose sharply in six U.S. states, while authorities in Beijing ramped up efforts to contain a new coronavirus outbreak.
Canada's wholesale trade plunged a record 21.6% in April as the COVID-19 pandemic shut down businesses across the country, Statistics Canada data showed.
At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 81.16 points, or 0.53%, at 15,347.53.
The energy sector dropped 0.5% as U.S. crude prices were down 0.4% a barrel, while Brent crude was unchanged. [O/R]
The financials sector slipped 1.2%. The industrials sector fell 0.7%.
The materials sector, which includes precious and base metals miners, lost 0.2% as gold futures fell 0.4% to $1,721.9 an ounce. [GOL/]
On the TSX, 45 issues were higher, while 176 issues declined for a 3.91-to-1 ratio to the downside, with 14.49 million shares traded.
The largest percentage gainer on the TSX was Shopify Inc (TO:SHOP), which jumped 2.7% after RBC raised its target price for the stock, followed by Empire Company Ltd, which rose 2.3% after its quarterly results beat expectations.
Hexo Corp (TO:HEXO) fell 3.6%, the most on the TSX, after the pot producer announced the sale of its Niagara facility.
The second-biggest decliner was Brookfield Business Partners L.P (TO:BBU_u), down 3.2%.
The most heavily traded shares by volume were BCE Inc (TO:BCE), down 0.9%, Bombardier Inc (TO:BBDb), down 1%, and Hexo Corp (TO:HEXO), down 3.6%.
The TSX posted no new 52-week highs and no new lows.
Across all Canadian issues there were seven new 52-week highs and one new low, with total volume of 24.84 million shares.