October 8, 2019 / 2:39 PM / 8 months ago

CANADA STOCKS-TSX drops on concerns around upcoming China-U.S. trade talks

Oct 8 (Reuters) - Canadian stocks fell on Tuesday as investors around the globe shunned risk assets amid growing anxiety about the outcome of the U.S.-China trade negotiations later this week.

* At 9:44 a.m. ET (1344 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 101.17 points, or 0.62%, at 16,320.58.

* A Bloomberg report said the Trump administration was moving ahead with discussions around possible curbs on capital flows into China.

* Adding to the sour mood was a South China Morning Post report that said the Chinese delegation arriving for the trade talks in the United States could depart Washington a day earlier than planned.

* The energy sector dropped 2.0%, tracking a slide in oil prices.

* U.S. crude prices were down 1.1% a barrel, while Brent crude lost 0.9%.

* Ten of the index’s 11 major sectors were in the red, with industrials sector falling 1.1% and financials sector slipping 0.6%.

* A bright spot was the materials sector, which added 0.8% aided by shares of gold mining companies.

* Investors’ aversion to risk helped gold futures rise 0.6% to $1,506.3 an ounce.

* On the TSX, 47 issues were higher, while 180 issues declined for a 3.83-to-1 ratio to the downside, with 16.41 million shares traded.

* The largest percentage gainers on the TSX were Detour Gold Corp, up 2.9%, and First Majestic Silver Corp, which rose 2.8%.

* WSP Global Inc fell 5.8%, the most on the TSX. The second-biggest decliner was Whitecap Resources Inc, down 4.4%.

* The most heavily traded shares by volume were Aurora Cannabis and Docebo Inc.

* The TSX posted six new 52-week highs and five new lows.

* Across all Canadian issues, there were 12 new 52-week highs and 14 new lows, with total volume of 27.86 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Maju Samuel)

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