February 24, 2020 / 3:06 PM / 5 months ago

CANADA STOCKS-Toronto stocks drop, gold miners gain as coronavirus fears spell risk-off mood

(Adds details, updates prices)

Feb 24 (Reuters) - Canadian stocks fell more than 300 points on Monday as a spike in coronavirus cases outside China led to fears of a pandemic and prompted a broad-based selloff.

* At 09:42 a.m. ET (1443 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 308.82 points, or 1.73%, at 17,534.71.

* A jump in coronavirus cases in Italy, South Korea and Iran sent investors scrambling to safe havens such as gold and government bonds, causing large drops in global equity indexes.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.9% to become the sole gaining sector as major gold miners were propped up by a surge in bullion prices.

* On the TSX, 39 issues were higher, while 188 issues declined for a 4.82-to-1 ratio to the downside, with 42.43 million shares traded.

* The top gainers on the TSX were Eldorado Gold Corp , which jumped 10.4% after a swathe of price target raises on the stock, and MTY Food Group, which rose 8.0% after posting a rise in its fourth-quarter earnings.

* Ballard Power Systems Inc fell 11.2%, the most on the TSX, as it continued to retreat from last week’s record high, while the second biggest loser was First Quantum Minerals , down 10.8%.

* The most heavily traded shares by volume were Bombardier B , B2gold Corp, and Aurora Cannabis.

* The TSX posted 13 new 52-week highs and 17 new lows.

* Across all Canadian issues, there were 83 new 52-week highs and 61 new lows, with total volume of 79.11 million shares. (Reporting by Ambar Warrick in Bengaluru; Editing by Shinjini Ganguli)

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