TSX falls on oil weakness, dismal trade data

Canada's main stock index fell on Thursday as the heavyweight energy sector dropped on lower oil prices, with bleak trade data for April further denting sentiment.

The nation's exports and imports plunged in April as the coronavirus-fueled lockdowns forced factories and retail stores to shut businesses, Statistics Canada said.

At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 41.53 points, or 0.27pc, at 15,533.58.

The energy sector dropped 0.9pc as US crude prices were down 1.5pc, while Brent crude lost 1.0pc.

The financials sector slipped 1.0pc.

The industrials sector remain unchanged.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.6pc as gold futures rose 0.9pc to $1,713.3 an ounce.

On the TSX, 68 issues were higher, while 158 issues declined for a 2.32-to-1 ratio to the downside, with 34.09 million shares traded.

The largest percentage gainer on the TSX was Silvercorp Metals Inc, which jumped 5.8pc.

Its gains were followed by Methanex Corp, which rose 5.4pc after the methanol producer and supplier secured additional financial flexibility under its credit facilities.

Baytex Energy Corp fell 4.7pc, the most on the TSX.

The second-biggest decliner was outdoor apparel maker Canada Goose Holdings Inc, down 3.8pc, after surging on Wednesday as it announced plans to limit shipments to department stores and focus on its own outlets and website.

The most heavily traded shares by volume were Canadian Natural Resources Ltd, down 0.9pc; Suncor Energy Inc , down 0.9pc and Imperial Oil Ltd, down 1.0pc.

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

Across all Canadian issues there were five new 52-week highs and no new lows, with total volume of 51.07 million shares.