TSX flat as gains in financial shares offset losses in energy stocks

(Reuters) - Canada’s main stock index was flat on Monday, as gains in the financials sector were offset by losses in energy shares.

FILE PHOTO: The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren

* At 9:52 a.m. ET (1452 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 4.12 points, or 0.03 percent, at 16,064.13.

* The financials sector gained 0.5 percent, after a Reuters poll showed the Bank of Canada may hike its key interest rate once again later this year.

* The BoC still aims to take the overnight rate, currently at 1.75 percent, up closer to what it says is the neutral range but there is now a small chance of a cut, according to economists polled by Reuters.

* Shares of Alaris Royalty Corp were up 2 percent, leading among financials, followed by a 1.8 percent rise in CI Financial Corp.

* Eight of the index’s 11 major sectors gained.

* The energy sector edged down 0.7 percent, the most on among the major sectors, pressured by a near 6 percent drop in shares of Enbridge Inc after the company delayed its line 3 pipeline.

* On the TSX, 149 issues were higher, while 77 issues declined for a 1.94-to-1 ratio favoring gainers, with traded volume touching 12.52 million shares.

* The top percentage gainer on the TSX was shares of Aphria Inc, which rose 4.2 percent after the cannabis producer received a license to increase production from Health Canada.

* The biggest decliner on the TSX was Enbridge.

* The most heavily traded shares by volume were GeneNews Limited, Enbridge and Argex Titanium Inc.

* The TSX posted seven new 52-week highs and no new low.

* Across all Canadian issues, there were 32 new 52-week highs and one new low, with total volume touching 26.47 million shares.

Reporting by Shreyashi Sanyal in Bengaluru; Editing by James Emmanuel