May 29, 2019 / 2:02 PM / 4 months ago

CANADA STOCKS-TSX slips as oil prices tumble, BoC rate decision awaited

May 29 (Reuters) - Canada’s main stock index fell on Wednesday, as weak oil prices dragged down energy shares, while investors awaited an interest rate decision from the Bank of Canada.

* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was down 116.52 points, or 0.71%, at 16,180.94.

* The energy sector dropped 1.7%, the most among the 11 major sectors.

* Oil prices fell nearly 3% after China signaled it would use the rare earths card in its trade war with the United States, stoking concerns that an ongoing stand-off could hurt crude demand.

* Uncertainty due to trade conflicts has worried the Bank of Canada, which is widely expected to leave its benchmark interest rate unchanged at 1.75%. The rate decision is due at 10 a.m. (1400 GMT).

* A Reuters poll showed on Friday that the central bank is done raising interest rates until at least the end of next year with economists pricing a 40% chance of a rate cut by the end of 2020.

* The rate-sensitive financials sector slipped 0.5%.

* On the TSX, 44 issues were higher, while 190 issues declined for a 4.32-to-1 ratio to the downside, with 11.52 million shares traded.

* The top percentage gainer on the TSX was Turquoise Hill Resources, which rose 1.9%.

* Canada Goose Holdings plunged 20.8%, the most on the TSX, after the high-end winter clothing maker posted its slowest revenue growth in eight quarters and forecast even slower sales growth for the next three years.

* The most heavily traded shares by volume were Champion Iron Ltd, Avalon Advanced Materials Inc and Royal Nickel.

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

* Across all Canadian issues there were 26 new 52-week highs and 16 new lows, with total volume of 23.28 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Anil D’Silva)

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