April 26, 2019 / 2:15 PM / 8 months ago

CANADA STOCKS-TSX set to end 4-week rally as oil prices drop

April 26 (Reuters) - Canada’s main stock index fell on Friday and was on track to end a four-week long rally, as energy shares declined on the back of falling oil prices.

* At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was down 33.26 points, or 0.2 percent, at 16,542.84.

* Seven of the index’s 11 major sectors were lower, led by a 1.5 percent fall in energy sector.

* Oil prices fell on Friday and were on track to halt a seven-week bull run amid efforts to resume Russian oil flows that were interrupted by contamination.

* U.S. crude and Brent crude prices lost 1.4 percent, each.

* Also pressuring the sector was a 4.5 percent drop in shares of Imperial Oil after the oil refiner cut its 2019 spending forecast due to extreme cold weather, production cuts enforced by Alberta’s government and weak refining margins.

* Majority stakeholder in Imperial Oil, Exxon Mobil Corp , reported first-quarter profit that missed forecasts due to lower oil and gas prices and weakness across its businesses that outweighed modest production gains.

* The financials sector edged down 0.1 percent, while industrials fell 0.5 percent.

* The materials sector, which includes precious and base metals miners, added 0.8 percent as gold rose on Friday and the dollar fell after data suggested an acceleration of U.S. growth was driven by temporary factors that are likely to reverse in the coming quarters.

* On the TSX, 107 issues were higher, while 124 issues declined for a 1.16-to-1 ratio to the downside, with traded volume touching 11.21 million shares.

* The largest percentage gainer on the TSX was Aecon Group , which rose 4.9 percent after stronger-than-expected quarterly results.

* Mullen Group fell 6.6 percent, the most on the TSX, after multiple analysts cut their price targets on the share.

* The most heavily traded shares by volume were Bombardier , Prometic Life Sciences and Baytex Energy Co .

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

* Across all Canadian issues, there were 11 new 52-week highs and five new lows, with total volume touching 19.91 million shares. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by James Emmanuel)

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