TSX falls as energy, materials stocks drag
- The energy sector dropped 0.1%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3%.
- Toronto Stock Exchange's S&P/TSX composite index was down 65.27 points, or 0.35%, at 18,419.26.
Canada's main stock index fell on Thursday, as weakness in energy and materials stocks outweighed upbeat earnings by a slew of companies including Toronto-Dominion Bank, Canadian Imperial Bank of Commerce and Maple Leaf Foods.
The energy sector dropped 0.1%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3%.
At 10:13 a.m. ET (1513 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 65.27 points, or 0.35%, at 18,419.26.
Osisko Gold Royalties Ltd fell 3.3%, the most on the TSX, after brokerage BMO downgraded the miner's stock. The second-biggest decliner was oil producer Vermilion Energy Inc , down 3%.
Lenders Toronto-Dominion Bank and Canadian Imperial Bank of Commerce joined major rivals in beating expectations, thanks to much lower provisions for loan losses and trading strength.
On the TSX, 83 issues were higher, while 132 issues declined for a 1.59-to-1 ratio to the downside, with 59.72 million shares traded.
The largest percentage gainers on the TSX were real estate service provider Altus Group Ltd and apparel maker Gildan Activewear Inc which jumped 12.3% and 8.8%, respectively, after the companies posted upbeat fourth-quarter results.
The most heavily traded shares by volume were Manulife Financial Corp, ClearStream Energy Services Inc and Baytex Energy Corp.
The TSX posted 10 new 52-week highs and no new lows.
Across all Canadian issues there were 39 new 52-week highs and 10 new lows, with a total volume of 52.98 million shares.
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