March 2, 2018 / 4:04 PM / 8 months ago

CANADA STOCKS-TSX hits two-week low on trade worries, lower oil prices

(Adds details throughout on stocks and sectors; updates prices)

TORONTO, March 2 (Reuters) - Canada’s main stock index fell to a two-week low on Friday, weighed by declines in energy, financial and industrial shares as oil prices fell and global investors worried about a trade war.

* At 10:43 a.m. EST (15:43 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 31.4 points, or 0.2 percent, to 15,362.55.

* The energy group retreated 1.5 percent, with Suncor Energy down 2.5 percent at $40.70, as oil prices fell.

* U.S. crude prices were down 1.2 percent at $60.29 a barrel after news of U.S. plans to impose tariffs on steel and aluminum hit global equity markets and as U.S. crude inventories climbed.

* U.S. President Donald Trump unveiled the tariffs on Thursday but did not make clear whether they would apply to Canada, which is the largest supplier of both steel and aluminum to the United States.

* Canada’s economy could also be impacted by talks with the United States and Mexico to revamp the North American Free Trade Agreement. Canada sends 75 percent of its exports to the United States.

* Shares of trade-sensitive auto parts and railroad companies added to Thursday’s declines. Magna International Inc fell 1 percent to C$68.02 and Canadian Pacific Railway Ltd retreated 0.9 percent to C$224.96.

* The overall industrials group slipped 0.5 percent, while the financials group, which accounts for more than one-third of the weight of the TSX, declined 0.4 percent.

* The materials group, which includes precious and base metals miners and fertilizer companies, added 0.3 percent.

* Gold futures rose 1.4 percent to $1,320.5 an ounce, boosted by investor demand for safer investments.

* The largest percentage gainer on the TSX was Sleep Country , which rose 12.9 percent after it reported fourth-quarter results after the close on Thursday.

* The TSX posted 2 new 52-week highs and 9 new lows, while five of the index’s 10 main groups were lower. (Reporting by Fergal Smith Editing by Nick Zieminski)

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