October 3, 2019 / 3:32 PM / 2 months ago

CANADA STOCKS-TSX flat as miners, pot producers offset weak U.S. data

(Updates throughout, adds details)

Oct 3 (Reuters) - Canada’s main stock index was flat on Thursday, as gains in cannabis producers and miners offset early weakness following poor readings on U.S. services sector activity.

* At 11:14 a.m. ET (1514 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 15.11 points, or 0.09%, at 16,326.08.

* The index had fallen about 0.5% earlier after the latest numbers from the United States, the world’s largest economy, showed services sector growth slowed to its most anemic pace in three years last month.

* That added to a string of poor data from the euro zone on Thursday amid growing evidence that the world economy was taking a toll from the bruising U.S.-China trade war.

* Miners jumped, with shares in Torex Gold Resources, Yamana Gold Inc and Barrick Gold rising between 3% and 5%, as the safe-haven appeal of the metal got a boost in the wake of the data.

* Weed companies were among the top gainers, with shares in Aurora Cannabis jumping 4% after the company provided positive updates on global operations. Shares of Aphria Inc and Canpoy Growth gained about 2%.

* The top decliner in Canada’s main index was manufacturing firm Linamar Corp, which slumped 12.4% after warning of the negative impact on its earnings from trade uncertainties and an autoworkers’ strike at General Motors.

* A slide in oil price below $57 a barrel due to signs of excess supply and global growth worries drove the energy index down 0.8%.

* The most heavily traded shares by volume were Aurora Cannabis, Toronto-Dominion Bank and Bank of Nova Scotia .

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

* Across all Canadian issues, there were nine new 52-week highs and 33 new lows, with total volume of 121.68 million shares.

* On the TSX, 124 issues were higher, while 103 issues declined for a 1.20-to-1 ratio favoring gainers, with 76.14 million shares traded. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila and Maju Samuel)

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