(Reuters) - Canada’s main stock index fell on Wednesday, as investors were skeptical over U.S. measures to combat the economic impact of coronavirus, while oil stocks took a beating as crude prices remained weak.
- At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange’s S&P/TSX composite index had plunged 356.93 points, or 2.39%, to 14,601.16. The index had risen on Tuesday after falling sharply for several sessions.
- Wall Street also fell on Wednesday amid uncertainty over U.S. stimulus plans, while a rebound rally in global stocks slowly ran out of steam. [MKTS/GLOB]
- Canada’s energy sector fared the worst, dropping 3.8% as oil prices fell after Saudi Arabia and the United Arab Emirates announced plans to boost production capacity. [O/R]
- On the TSX, 10 issues rose, while 220 fell for a 22.00-to-1 ratio in favor of the losers, with 33.97 million shares traded.
- The largest percentage gainers on the TSX were Wesdome Gold, which jumped 7.1%, and Centerra Gold, which rose 3.4%. Both stocks tracked the recent rise in gold prices. [GOL/]
- Baytex Energy Co fell 7.8%, the most on the TSX, while the second-biggest decliner was First Quantum Minerals, down 7.8%.
- The most heavily traded shares by volume were Crescent Point Energy, down 5.8%, and Cenovus Energy, down 3.5%.
- The TSX posted no new 52-week highs and 18 new lows.
- Across all Canadian issues there were 6 new 52-week highs and 55 new lows, with total volume of 60.06 million shares.
Reporting by Ambar Warrick in Bengaluru; Editing by Vinay Dwivedi
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