August 9, 2019 / 2:10 PM / 3 months ago

CANADA STOCKS-TSX flat as material losses offset by energy gains

Aug 9 (Reuters) - Canada’s main stock index treaded water on Friday, as gains in shares of energy companies were countered by losses in materials shares.

* Also keeping investors on edge was a report that Washington was delaying a decision about allowing some trade between U.S. companies and China’s telecom equipment maker Huawei again.

* Oil prices were supported by expectations of more OPEC production cuts despite the International Energy Agency (IEA) reporting demand growth at its lowest since the financial crisis of 2008.

* The energy sector climbed 0.8%, the most among the major S&P sectors.

* Official data on Friday showed Canada’s economy shed a net 24,200 jobs in July, driven by a decline in wholesale and retail trade, as Canada’s job market remained in a holding pattern for the third consecutive month.

* At 9:49 a.m. ET (1349 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 10.16 points, or 0.06%, at 16,394.37.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.8% as gold futures fell 0.1% to $1,496.1 an ounce.

* On the TSX, 108 issues were higher, while 124 issues declined for a 1.15-to-1 ratio to the downside, with 19.55 million shares traded.

* The largest percentage gainer on the TSX was Altus Group , which jumped 11.6% after its quarterly results beat analysts’ estimates.

* Sleep Country followed closely behind with an 11% rise after reporting quarterly results.

* CCL Industries Inc’s class B shares tumbled 9%, the most on the TSX, after its second-quarter revenue missed estimates.

* The second-biggest decliner was Stantec Inc, down 7.5%, after multiple brokerages lowered their price target on the stock.

* The most heavily traded shares by volume were Lydian International Ltd, New Gold Inc and Horizon North Logistics Inc.

* The TSX posted nine new 52-week highs and six new lows.

* Across all Canadian issues, there were 22 new 52-week highs and 14 new lows, with total volume of 35.71 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Maju Samuel)

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