Sign up
Log in
CANADA STOCKS-TSX slips as energy shares decline
Share
Listen to the news
CANADA STOCKS-TSX slips as energy shares decline

Updated at 10:21 a.m. ET/ 1421 GMT

By Nikhil Sharma

- Canada's main stock index fell on Tuesday as energy shares slid, while investor caution ahead of U.S. inflation data also weighed on the overall losses.

At 10:08 a.m. ET (14:08 GMT), the S&P/TSX composite index .GSPTSE was down 148.94 points, or 0.65%, at 22,878.21.

At least major sectors on the index losses.

Energy shares .SPTTEN led the sectoral losses with a 3% fall, as oil prices edged lower on a weaker demand outlook and global oil oversupply risks. O/R

A bigger driver of the overall market loss was Wall Street, where the S&P 500 index .SPX was marginally down as investors awaited U.S. inflation data and signals on how far and fast the Federal Reserve will cut rates.

Money markets unanimously see the Fed's first rate cut this cycle at the Sept. 18 policy meeting.

Lagging shares on the TSX were Methanex Corp MX.TO, down 4.5%, Baytex Energy Corp BTE.TO, down 3.4%, and Precision Drilling Corp PD.TO, down 3%.

The leading shares were Kinross Gold Corp K.TO, up 2.5%, and Aya Gold & Silver Inc AYA.TO, up 2.3%.

Sixty-two issues rose and 160 fell on the index as a 0.4-to-1 ratio favored decliners. There were 10 highs and eight lows, with total volume of 30.5 million shares.

The most heavily traded shares by volume were Canadian Natural Resources Ltd CNQ.TO, Suncor Energy Inc SU.TO and Baytex Energy Corp BTE.TO.

West Texas Intermediate crude futures CLc1 fell 3.26%, or $2.27, to $66.44 a barrel. Brent crude LCOc1 fell 3.08%, or $2.21, to $69.63 O/R

The TSX is up 9.3% for the year.


(Reporting by Nikhil Sharma in Bengaluru; Editing by Shreya Biswas)

((Nikhil.Sharma@thomsonreuters.com;))

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
What's Trending
No content on the Webull website shall be considered a recommendation or solicitation for the purchase or sale of securities, options or other investment products. All information and data on the website is for reference only and no historical data shall be considered as the basis for judging future trends.