June 8, 2018 / 11:37 AM / 5 months ago

TSX lower as financials, energy stocks weigh

(Reuters) - Canada’s main stock index slipped on Friday, weighed down by financial stocks and the energy sector, as the specter of a trade war loomed ahead of a Group of Seven summit in Quebec.

A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren

* At 9:34 a.m. ET (1334 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was down 24.49 points, or 0.15 percent, at 16,168.29.

* Biggest drag on the main index was the financials group, which declined 0.2 percent.

* Shares of Royal Bank Of Canada and Toronto-Dominion Bank, both down nearly 0.3 percent, dragged on the financials.

* The head of Bank of Canada said on Thursday that trade uncertainty feels more risky than it did in April.

* U.S. President Donald Trump lashed out at Canada and the EU and said he plans to leave a meeting with leaders of the G7 nations early as fears of a trade war ratcheted higher.

* Economic data showed the Canadian economy unexpectedly shed jobs in May but wages grew at their strongest annual pace in nearly six years.

* Other data showed Canada’s first quarter capacity utilization rose to a 12-year high, while Canadian housing starts fell in May.

* The energy sector dropped 0.3 percent as oil prices fell on weakening demand in China and surging U.S. output weighed on markets. [O/R]

* Eight of the index’s eleven major sectors were lower.

* On the TSX, 78 issues were higher, while 155 issues declined for a 1.99-to-1 ratio to the downside, with 7.33 million shares traded.

* The largest percentage gainers on the TSX were Dollarama Inc, which jumped 1.9 percent after BMO upgraded the stock.

* Biggest decliners on the TSX were cannabis firms Canopy Growth Co, which fell 3.6 percent and Aurora Cannabis, which tripped 3 percent.

* Shares of cannabis firms were down despite Canada’s Senate voting to legalize recreational marijuana on Thursday.

* The most heavily traded shares by volume were Aurora Cannabis, Aphria Inc and Green Organic Dutchman Holdings.

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

* Across all Canadian issues there were 8 new 52-week highs and 6 new lows, with total volume of 12.20 million shares.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Saumyadeb Chakrabarty

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