May 13 (Reuters) - Canada’s main stock index fell for the third straight day on Monday, as an escalating trade row between the United States and China had investors worrying about the damage it could cause to global economic growth.
* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 130.59 points, or 0.8%, at 16,166.96.
* The latest salvo in the months-long trade spat between the world’s two largest economies came with China announcing its plans to set tariffs ranging from 5% to 25% on a revised target list of $60 billion worth of U.S. imports.
* Beijing said the tariffs will take effect on June 1 and came less than two hours after Trump warned Beijing not to retaliate after China said it “will never surrender to external pressure”.
* All of the index’s 11 major sectors were trading in the red.
* Canadian government bond prices were higher and the spread between the yields on the 10-year bond and the 3-month T-bill briefly inverted.
* The energy sector dropped 0.6% even as oil prices were buoyed by growing concern over supply disruptions in the Middle East.
* The financials sector slipped 1.3% while industrials fell 0.2%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.2% as lead prices sunk to the lowest in nearly three years on Monday on the trade tensions.
* On the TSX, 54 issues were higher, while 183 issues declined for a 3.39-to-1 ratio to the downside, with 15.72 million shares traded.
* The largest percentage gainers on the TSX were shares of WestJet Airlines Ltd, which jumped 61.9% after the company said it will be acquired by private equity firm Onex Corp in an all-cash deal for C$3.53 billion ($2.63 billion).
* Lundin Mining Corp fell 5.9%, the most on the TSX, followed by Sierra Wireless Inc, which fell 5.4%.
* The most heavily traded shares by volume were Prometic Life Sciences Inc, WestJet and Aurora Cannabis Inc .
* The TSX posted four new 52-week highs and three new lows.
* Across all Canadian issues there were nine new 52-week highs and nine new lows, with total volume of 26.33 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta)
Our Standards: The Thomson Reuters Trust Principles.