January 16, 2020 / 3:31 PM / 7 months ago

CANADA STOCKS-TSX hits record high on U.S.-China deal relief, Bombardier slides

Jan 16 (Reuters) - Canada’s main stock index scaled a new all-time peak on Thursday, as the signing of an initial U.S.-China trade deal offered some relief to investors, while shares of Bombardier tumbled to a near four-year low on a profit warning.

* At 9:48 a.m. ET (1448 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 41.39 points, or 0.24%, at 17,456.56.

* The trade deal, signed in Washington on Wednesday, defused an 18-month row between the two sides but still raises questions over daunting purchase commitments of U.S. goods by China, while leaving existing tariffs in place.

* Canadian manufacturer Bombardier Inc’s shares tumbled more than 35% to their lowest level since March 2016 after the company warned of lower 2019 profits and said it might have to write down significantly the value of its partnership with Airbus on A220 jets.

* Bombardier was the top loser on the TSX.

* Also lifting the mood was a report from payroll services provider ADP which showed Canada added 46,200 jobs in December, the sixth straight month of gains.

* The materials sector, which includes precious and base metals miners, lost 0.4% and was the only sector in the red as gold prices held steady.

* The energy sector climbed 1%, boosted by higher oil prices, with U.S. crude up 0.6% , while Brent crude added 0.7%.

* On the TSX, 168 issues were higher, while 60 issues declined for a 2.80-to-1 ratio favoring gainers, with 41.74 million shares traded.

* The largest percentage gainers on the TSX were cannabis producers Aurora Cannabis, which jumped 7.8%, and Hexo Corp, which rose 4.6%.

* The most heavily traded shares by volume were Bombardier, Aurora Cannabis and Trevali Mining.

* The TSX posted 13 new 52-week highs and one new low.

* Across all Canadian issues there were 105 new 52-week highs and nine new lows, with total volume of 61.73 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Aditya Soni)

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