April 9, 2019 / 11:44 AM / 3 months ago

TSX poised to end six day rally as growth worries resurface

(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.

FILE PHOTO: A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, June 23, 2014. REUTERS/Mark Blinch/File Photo

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange’s S&P/TSX composite index 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 dropped 0.6 percent as U.S. crude prices were down 0.3 percent, while Brent crude lost 0.5 percent. [O/R]

* The financials sector slipped 0.9 percent, while the industrials sector 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, which gained 3.6 percent, followed by Endeavour Mining, which rose 2.7 percent.

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

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

* 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.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shailesh Kuber

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