March 27, 2019 / 11:56 AM / 5 months ago

TSX muted as global growth worries persist

(Reuters) - Canada’s main stock index treaded water on Wednesday, as worries of global economic slowdown curbed investor appetite for risk.

Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 9.93 points, or 0.06 percent, at 16,165.09.

In economic news, Canada’s trade deficit shrank slightly to C$4.25 billion ($3.17 billion) in January, the second highest on record, as low crude prices continued to eat into the value of exports, Statistics Canada said.

Seven of the index’s 11 major sectors were higher.

The financials sector, which accounts for a third of the main index’s weight, slipped 0.1 percent while the industrials sector rose 0.3 percent.

The energy sector was trading flat. U.S. crude prices were up 0.2 percent a barrel, while Brent crude added 0.4 percent.

The materials sector, which includes precious and base metals miners and fertilizer companies, as safe-haven buying supported gold prices.

On the TSX, 160 issues were higher, while 72 issues declined for a 2.22-to-1 ratio favoring gainers, with 13.43 million shares traded.

The largest percentage gainers on the TSX were Brookfield Property Partners L.P. which jumped 3.4 percent and Iamgold Corp, which rose 2.2 percent.

Cronos Group Inc fell 4.5 percent, the most on the TSX, after Canaccord Genuity downgraded the cannabis company’s stock to “sell”.

The second biggest decliner was Meg Energy Corp, down 2 percent.

The most heavily traded shares by volume were Argex Titanium Inc, Aurora Cannabis and Hexo Corp.

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

Across all Canadian issues there were 35 new 52-week highs and three new lows, with total volume of 23.99 million shares.

Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur

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