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TSX falls as April domestic growth plunges, oil prices slide

(Reuters) - Canada’s main stock index fell on Friday as coronavirus-led shutdowns dragged the country’s domestic growth in April by a record 11%, while a drop in heavyweight energy shares following weak oil prices also dented sentiment.

The Toronto Stock Exchange sign is seen in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren

* At 09:40 a.m. ET (1340 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 58 points, or 0.38%, at 15,204.73.

* The energy sector dropped 1.6% as U.S. crude prices fell 2.4% a barrel, while Brent crude lost 2.0%. [O/R]

* The financials sector slipped 1.3% and the industrials sector fell 0.6%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.6% as gold futures rose 0.7% to $1,725.7 an ounce. [GOL/]

* On the TSX, 61 issues were higher, while 167 issues declined for a 2.74-to-1 ratio to the downside, with 31.04 million shares traded.

* The largest percentage gainers on the TSX was Pan American Silver Corp PAAS.TO, which jumped 6.0% after the mining company said it would undertake an public offering of 9 million common shares of Maverix Metal Inc, currently held by Pan American.

* Its gains were followed by First Majestic Silver Corp FR.TO, which rose 4.8% after brokerage BMO raised price target of the stock.

* Canopy Growth Corp WEED.TO fell 18.9%, the most on the TSX, after the pot company reported a wider first-quarter loss.

* The second-biggest decliner was Laurentian Bank of Canada LB.TO, down 8.8%, after the chartered bank reported second-quarter results below analysts estimates.

* The most-heavily traded shares by volume were Suncor Energy Inc SU.TO, down 1.5%; Torstar Corp TSb.TO, up 6.6% and Hexo Corp HEXO.TO, down 5.4%.

* The TSX posted no new 52-week highs and no new lows.

* Across all Canadian issues, there were eight new 52-week highs and 2 new lows, with a total volume of 52.06 million shares.

Reporting by Amal S in Bengaluru; editing by Uttaresh.V

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