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Dec 5 (Reuters) - Canada’s main stock index extended its slide from earlier this week on Thursday, as weak earnings reports from lenders Canadian Imperial Bank of Commerce and TD Bank Group added to a gloomy mood among investors, worried about global trade disputes.
The Toronto Stock Exchange’s S&P/TSX composite index was down 75.58 points, or 0.45%, at 16,821.76, on track for its biggest weekly loss in two months.
* Financials were the biggest decliners on the main index as shares in TD Bank dropped 3% and CIBC slid 5% after posting smaller-than-expected quarterly earnings.
* Canadian Western Bank also dropped 6% after poor results. The week has seen shares of major banks including Royal Bank of Canada falling, as sliding investment banking fees, pressure on margins and an increasingly weak credit environment led to disappointing results.
* Investors have also been grappling with conflicting headlines on the U.S.-China trade deal. Earlier this week, U.S. President Donald Trump said the deal might have to wait until after U.S. elections in November 2020. However, trade hopes were revived on Wednesday after a report said the two sides were moving closer to a preliminary deal.
* Energy shares dipped 0.1% after rallying in the previous session due to a jump in oil prices ahead of an OPEC meeting, where members are expected to agree on deeper output cuts.
* On the TSX, 130 issues were higher, while 95 issues declined for a 1.37-to-1 ratio favouring gainers, with 35.86 million shares traded.
* The largest percentage gainer on the TSX was Turquoise Hill Resources, which jumped 3.1%, followed by iA Financial Corp, which rose 2.9%.
* Eldorado Gold fell 6%, the most on the TSX, and the second-biggest decliner was CIBC, down 5.5%.
* The most heavily traded shares by volume were Toronto-Dominion Bank, Canadian Natural Resources and CIBC.
* The TSX posted nine new 52-week highs and no new lows.
* Across all Canadian issues, there were 21 new 52-week highs and eight new lows, with total volume of 60.71 million shares. (Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)
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