August 28, 2018 / 11:44 AM / in 3 months

TSX dips due to losses in marijuana stocks

(Reuters) - Canada’s main stock index dipped on Tuesday as losses in the healthcare sector led by marijuana companies overshadowed gains in precious metal miners as gold prices edged higher.

The Toronto Stock Exchange sign is seen in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

* Cannabis producers Canopy Growth, Aurora Cannabis and Aphria fell between 6 percent and 8 percent and were the biggest decliners on the main index.

* Also weighing was the heavyweight financial sector’s 0.3 percent fall, led by Canada’s third-biggest lender Bank of Nova Scotia, which reported third-quarter earnings in line with market expectations.

* However, rival Bank of Montreal rose 0.3 percent after topping third-quarter earnings estimates, helped by growth in the United States.

* Only three of the index’s 11 major sectors were higher, led by the material sector’s 0.6 percent rise.

* Gold edged higher, helped by weakness in the dollar but analysts said ongoing U.S.-China tensions would continue to weigh.

* Investors expect Canada would agree to new terms to preserve a three-nation pact after the United States and Mexico reached a deal to overhaul the North American Free Trade Agreement.

* At 9:54 a.m. ET (13:54 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 31.65 points, or 0.19 percent, at 16,412.74.

* On the TSX, 101 issues were higher, while 135 issues declined for a 1.34-to-1 ratio to the downside, with 30.42 million shares traded.

* The largest percentage gainers on the TSX were shares of Canadian auto-part makers Linamar Corp, which jumped 4.7 percent and Martinrea International, which rose 3.9 percent.

* The most heavily traded shares by volume were Aurora Cannabis, Aphria Incand Canopy Growth Co.

* The TSX posted four new 52-week highs and one new low.

* Across all Canadian issues there were 19 new 52-week highs and 8 new lows, with total volume of 50.34 million shares.

Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below