TSX extends slide on global growth fears

(Reuters) - Canada’s main stock index extended losses on Monday from its sharpest decline this year in the previous session, as investors fled riskier assets on concerns over a softening global economy.

A logo for TMX Group, which operates the Toronto Stock Exchange, is seen after the company announced it was shutting down all markets for the rest of the day after experiencing issues with trading on all its exchange platforms in Toronto, Ontario, Canada April 27, 2018. REUTERS/Chris Helgren

At 9:59 a.m. ET (1359 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 50.65 points, or 0.31 percent, at 16,038.68.

The energy sector posted the steepest drop of 1.2 percent as U.S. crude prices were down 0.5 percent a barrel, while Brent crude lost 0.2 percent. [O/R]

However, gains in mining stocks, which got a lift from investors flocking to the safe-haven bullion, countered heavy losses in the energy sector.

The materials sector added 0.6 percent as spot gold gained 0.5 percent to $1,319.61 an ounce. [GOL/] [MET/L]

The financials sector, which accounts more than a third of the main index’s weight, slipped 0.5 percent. The industrials sector fell 0.3 percent.

On the TSX, 110 issues were higher, while 123 issues declined for a 1.12-to-1 ratio to the downside, with 17.98 million shares traded.

The largest percentage gainers on the TSX were Cronos Group Inc and TransAlta Corp, which rose 5.9 percent and 4.6 percent, respectively.

Interfor Corp fell 3.3 percent, the most on the TSX.

The second-biggest decliner was Kirkland Lake Gold Ltd, down 3.2 percent.

The most heavily traded shares by volume were Aurora Cannabis, Bombardier Inc and Hexo Corp.

The TSX posted 12 new 52-week highs and two new lows.

Across all Canadian issues, there were 36 new 52-week highs and 10 new lows, with total volume of 56.24 million shares.

Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel