August 6, 2019 / 11:45 AM / 12 days ago

TSX falls as financial, energy shares tumble

(Reuters) - Canada’s main stock index fell on Tuesday, hurt by a slide in energy and financial sectors amid heightened trade tensions between the United States and China.

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

At 9:47 a.m. ET (1347 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was down 115.68 points, or 0.71%, at 16,155.98.

10 of the index’s 11 major sectors were lower, with energy and financials falling the most.

The energy sector tumbled 2.3%, while financials slipped 1.4%.

The trade war between the world’s top economies remained close to boiling point in the past two sessions and have roiled global financial stocks after China let the onshore yuan break through the key 7 per dollar level for the first time since the global financial crisis.

The tensions did, however, ease globally when China’s central bank fixed the yuan at a slightly stronger rate.

The materials sector added 1.2% and was the sole gainer among major sectors as gold prices held near a six-year high. [GOL/]

On the TSX, 75 issues were higher, while 163 issues declined for a 2.17-to-1 ratio to the downside, with 38.22 million shares traded.

The biggest decliner on the main index was Semafo Inc, which tumbled 8% after the miner disclosed a pit failure in its mine in the Mana region and said the incident will impact 2019 guidance.

Shares of Aurora Cannabis Inc jumped 10%, the biggest percentage gainer on the TSX, after the cannabis producer reported higher preliminary fourth-quarter revenue.

The TSX posted 16 new 52-week highs and 15 new lows.

Across all Canadian issues, there were 73 new 52-week highs and 48 new lows, with total volume of 61.68 million shares.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel

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