May 10, 2019 / 2:39 PM / 2 months ago

CANADA STOCKS-TSX on course to post sharpest weekly fall as trade worries linger

May 10 (Reuters) - Canada’s main stock index fell on Friday, as investors were worried about the U.S.-China trade dispute, with Washington raising tariffs on Chinese goods even as the two sides tried to strike a last-minute deal.

* At 10:01 a.m. ET (14:01 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 116.6 points, or 0.71%, at 16,205.15. The index was on track to post its biggest weekly decline since mid-December.

* The declines mirrored a risk-off mode across global stocks on fears that worsening trade tensions between the two largest economies in the world would dent global growth.

* The United States on Friday hiked levies on $200 billion worth of Chinese goods and Beijing threatened to retaliate, although negotiators agreed to stay at the table in Washington for a second day.

* The worries overshadowed encouraging domestic data that showed the Canadian economy added a record 106,500 jobs in April, which reinforces market expectations that the Bank of Canada will keep rates steady for now. The April gain far outstripped analysts’ expectations of 10,000 jobs.

* All the 11 major S&P sectors were lower, led by a 1.1% fall in the consumer discretionary index. Gaming company Stars Group Inc fell 4.6%, giving back gains after a near 15% rise on Thursday.

* The energy sector and materials sector , heavyweights on the main index, fell about 0.9% each.

* The largest percentage gainer on the TSX was Kinaxis Inc , which rose 11.7% after better-than-expected quarterly results. This was followed by a 7.7% gain for CES Energy Solutions Corp.

* Ritchie Bros. Auctioneers Inc fell 6.6%, the most on the TSX, after its first-quarter profit missed estimates.

* The most heavily traded shares by volume were Bombardier Inc, Crescent Point Energy Corp and Aurora Cannabis Inc.

* On the TSX, 65 issues were higher, while 167 issues declined for a 2.57-to-1 ratio to the downside, with traded volumes touching 35.44 million shares.

* The TSX posted two new 52-week highs and four new lows.

* Across all Canadian issues, there were eight new 52-week highs and 14 new lows, with total volumes touching 51.73 million shares. (Reporting by Sruthi Shankar in Bengaluru; Editing by James Emmanuel)

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