TSX down as mining stocks track weaker bullion
- The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.5% as gold futures fell 1.1% to $1,703.1 an ounce.
- Toronto Stock Exchange's S&P/TSX composite index was down 83.83 points, or 0.44%, at 18,760.74.
Canada's main stock index fell on Friday as mining stocks tracked weaker bullion prices, while data showed the nation added far more jobs than expected in February.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.5% as gold futures fell 1.1% to $1,703.1 an ounce.
At 9:40 a.m. ET (14:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 83.83 points, or 0.44%, at 18,760.74.
Canada added more jobs than expected in February, while the unemployment rate dropped to its lowest point since March 2020, Statistics Canada data showed.
Badger Daylighting Ltd fell 10.4%, the most on the TSX, after the construction firm's fourth-quarer results missed estimates.
The second biggest decliner was Ballard Power Systems Inc , down 8%, after multiple brokerages cut the price target of the fuel-cell product maker's stock.
The energy sector climbed 0.6% even as US crude prices fell 0.5% a barrel, while Brent crude lost 0.5%.
The financials sector gained 0.5% and the industrials sector fell 0.8%.
On the TSX, 66 issues advanced, while 144 issues declined in a 2.18-to-1 ratio to the downside, with 21.32 million shares traded.
The largest percentage gainers on the TSX were Intertape Polymer Group Inc, which jumped 5.4%, after the packaging products maker reported its fourth-quarter results and Ivanhoe Mines Ltd, which rose 2.7%.
The most heavily traded shares by volume were ClearStream Energy Services Inc, Canadian Natural Resources Limited , and BCE Inc.
The TSX posted 10 new 52-week highs and no new low.
Across Canadian issues, there were 47 new 52-week highs and five new lows, with total volume of 54.19 million shares.
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