TSX rises as bank gains outweigh losses in mining shares

(Reuters) - Canada’s main stock index edged higher on Thursday, as gains in financial sector countered losses in mining shares, which took a hit from a drop in prices of precious metals.

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch

At 10:00 a.m. ET (14:00 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 18.23 points, or 0.11 percent, at 16,150.76.

CannTrust Holdings Inc declined 12 percent after medical marijuana producer reported wider than expected net loss in fourth quarter.

Its shares pulled the healthcare sector down 1.7 percent, the most among 11 major sectors.

The heavyweight financials sector marginally gained 0.1 percent, while the industrials sector rose 0.4 percent.

Among the biggest laggards on the main index were materials sector, which shed 0.8 percent and energy stocks, down 0.3 percent.

Gold futures fell 1.3 percent to $1,293.3 an ounce, while Silver dropped 1.4 percent to $15.06 an ounce. [GOL/] [MET/L]

Meanwhile, U.S. crude prices were down 1.2 percent per barrel, while Brent crude lost 1.3 percent as U.S. President Donald Trump called for the Organization of the Petroleum Exporting Countries to boost crude production to lower the price of the commodity. [O/R]

On the TSX, 128 issues were higher, while 110 issues declined for a 1.16-to-1 ratio favouring gainers, with traded volume touching 10.65 million shares.

The largest percentage gainers on the TSX were Canada Goose Holdings Inc, which rose 3.5 percent and Parkland Fuel Corp, which gained 2.2 percent.

CannTrust fell the most on the TSX and the second biggest decliner was First Majestic Silver Corp, down 4.1 percent.

The most heavily traded shares by volume were Aurora Cannabis, Canntrust and Espial Group.

The TSX posted 10 new 52-week highs and one new low.

Across all Canadian issues, there were 27 new 52-week highs and three new lows, with total traded volume touching 19.65 million shares.

Reporting by Medha Singh in Bengaluru; Editing by James Emmanuel