(Updates throughout, adds details)
Oct 1 (Reuters) - Canadian stocks reversed course to move lower on Tuesday as weak factory readings out of the United States rekindled fears of a global slowdown.
* After opening up 0.2%, the Toronto Stock Exchange’s S&P/TSX composite index was down 39.26 points, or 0.24%, at 16,619.37 an hour after open.
* The declines came as data showed manufacturing sector in the world’s largest economy contracted in September to its weakest level in more than a decade as business conditions deteriorated further amid U.S.-China trade tensions.
* Canadian data was mixed, with a reading on growth showing that the economy was unexpectedly unchanged in July, while manufacturing activity expanded in September at the fastest pace in seven months.
* The underwhelming set of data hit heavyweight energy stocks even as oil prices jumped on reports that output from the world’s largest oil producers fell during the third quarter.
* Materials index gained about 1% as gold prices jumped in the wake of the data. Miners such as Detour Gold Corp and SilverCorp Metal were among the top gainers, advancing more than 4%.
* SNC-Lavalin Group Inc and Hudbay Minerals Inc , down 5.7%, topped declines.
* The most heavily traded shares by volume were Aurora Cannabis Inc, Toronto-Dominion Bank and Kinross Gold Corp.
* The TSX posted 9 new 52-week highs and 5 new lows.
* Across all Canadian issues there were 15 new 52-week highs and 21 new lows, with total volume of 69.92 million shares.
* On the TSX, 85 issues were higher, while 143 issues declined for a 1.68-to-1 ratio to the downside, with 42.33 million shares traded.
Reporting by Sruthi Shankar in Bengaluru; Editing by Arun Koyyur and Sriraj Kalluvila
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