TSX falls as energy stocks, virus concerns weigh
- The energy sector dropped 1.4% as US crude prices were down 1.2% a barrel, while Brent crude lost 1.6%.
- Toronto Stock Exchange's S&P/TSX composite index was down 63.94 points, or 0.35%, at 17,978.13.
Canada's main stock index fell on Monday, dragged down by weakness in energy stocks, while a surge in coronavirus cases in China and rising restrictions across the globe triggered concerns around an economic recovery.
The energy sector dropped 1.4% as US crude prices were down 1.2% a barrel, while Brent crude lost 1.6%.
Germany reported an increase in coronavirus cases even as most of Europe was under the strictest restrictions, while China saw its biggest daily increase in infections in more than five months.
At 9:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 63.94 points, or 0.35%, at 17,978.13.
The materials sector, which includes precious and base metals miners and fertilizer companies, also lost 0.8%.
The sector was weighed by mining firms First Quantum Minerals Ltd, which fell 4.2%, the most on the TSX, and the second biggest decliner Ero Copper Corp, down 4.6%.
On the TSX, 55 issues were higher, while 153 issues declined for a 2.78-to-1 ratio to the downside, with 15.73 million shares traded.
The financials sector slipped 0.1%. The industrials sector fell 0.1%.
The largest percentage gainers on the TSX were NFI Group Inc, which jumped 6.6% after bus and motor coach manufacturer forecast full-year 2021 revenue above analysts' expectations, and pot producer Aurora Cannabis Inc, which rose 3.4%.
The most-heavily traded shares by volume were Nevada Copper, down 7.1%; Hut 8 Mining Crp, down 37.4% and Zenabis Glbl Inc, down 7.1%.
The TSX posted four new 52-week highs and no new lows.
Across all Canadian issues, there were 51 new 52-week highs and no new lows, with total volume of 44.95 million shares.
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