July 4, 2019 / 2:44 PM / 2 months ago

CANADA STOCKS-TSX edges lower as oil, weed stocks drag

July 4 (Reuters) - Canada’s main stock exchange edged lower on Thursday, failing to get a boost from a rally in global stock markets as a drop in oil prices hit energy stocks and weed stocks declined.

* At 10:35 a.m. ET (14:35 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 13.75 points, or 0.08%, at 16,562.45.

* With U.S. markets closed for the U.S. Independence Day holiday, the news flow was thin. However, a slump in benchmark debt yields on hopes of accommodative policies from major central banks continued to support risk assets.

* However, Canada’s main stock benchmark, trading near record levels, was dragged down by a 0.45% loss in the healthcare sector.

* Weed producer Canopy Growth Co fell about 0.5% after brokerage Bryan Garnier downgraded its stock to neutral from buy. Shares in peer Cronos Group Inc were down 0.75%.

* Energy stocks dropped 0.3% as oil prices fell after data showing a smaller-than-expected draw on U.S. crude stockpiles along with worries about the global economy. Brent crude futures were down 0.45%.

* The largest percentage gainers on the TSX were Richelieu Hardware Ltd, which rose 3.3% after reporting quarterly results and transportation and logistics company TFI International Inc, which gained 1.7%.

* OceanaGold Corp fell 3.9%, the most on the TSX, while the second biggest decliner was Russel Metals Inc , down 2.4%.

* The most heavily traded shares by volume were Scotiabank , Toronto-Dominion Bank and Prometic Life Sciences Inc.

* On the TSX, 97 issues were higher, while 131 issues declined for a 1.35-to-1 ratio to the downside, with 11.95 million shares traded.

* The TSX posted three new 52-week highs and two new lows.

* Across all Canadian issues there were 20 new 52-week highs and nine new lows, with total volume of 22.81 million shares. (Reporting by Sruthi Shankar in Bengaluru; editing by Jonathan Oatis)

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