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TSX poised to end 6-day rally as growth worries resurface

Published 2019-04-09, 10:02 a/m
© Reuters.  TSX poised to end 6-day rally as growth worries resurface
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April 9 (Reuters) - Canada's main stock index fell on Tuesday, mirroring losses in global equities, after the United States threatened to slap taxes on European goods and fears of a global economic slowdown resurfaced.

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 82.56 points, or 0.5 percent, at 16,324.73.

* The International Monetary Fund cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union. The U.S. on Monday proposed a list of European Union products ranging from large commercial aircraft and parts to dairy products and wine on which to slap tariffs as retaliation for European aircraft subsidies. Nine of the index's 11 major sectors were lower.

* The energy sector .SPTTEN dropped 0.6 percent as U.S. crude CLc1 prices were down 0.3 percent, while Brent crude LCOc1 lost 0.5 percent. O/R

* The financials sector .SPTTFS slipped 0.9 percent, while the industrials sector .GSPTTIN fell 0.6 percent.

* On the TSX, 78 issues were higher, while 158 issues declined for a 2.03-to-1 ratio to the downside, with 13.29 million shares traded.

* Top percentage gainers on the TSX were Bausch Health Co BHC.TO , which gained 3.6 percent, followed by Endeavour Mining EDV.TO , which rose 2.7 percent.

* WSP Global Inc WSP.TO fell 3.2 percent, the most on the TSX, followed by shares of Toromont Industries TIH.TO , down 2.7 percent.

* The most heavily traded shares by volume were Crescent Point CPG.TO , Aurora Cannabis ACB.TO and Baytex Energy Co BTE.TO .

* The TSX posted one new 52-week high and no new low.

* Across all Canadian issues there were seven new 52-week highs and two new lows, with total volume of 24.46 million shares.

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