TSX opens lower as oil stocks weigh
- The energy sector dropped 1.2% as US crude prices were down 0.1% a barrel, while Brent crude were flat.
- Toronto Stock Exchange's S&P/TSX composite index was down 66.16 points, or 0.3%, at 19,090.35.
Canada's main stock index fell on Thursday, weighed by energy stocks as a renewed surge in coronavirus infections in some Asian countries raised concerns about oil demand.
India, the third largest consumer of oil, recorded the world's highest daily tally of 314,835 COVID-19 infections on Thursday as a second wave of the pandemic raised new fears about the ability of crumbling health services to cope.
The energy sector dropped 1.2% as US crude prices were down 0.1% a barrel, while Brent crude were flat.
At 9:45 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 66.16 points, or 0.3%, at 19,090.35.
The materials sector, which includes precious and base metals miners, lost 1.2% as gold futures fell 0.7% to $1,779.6 an ounce.
Alphawave, a Toronto-based silicon IP firm, is planning to list in London to expand the reach of its chip connectivity technology and could be valued at up to $4.5 billion based on cornerstone agreements with two major investors.
On the TSX, 47 issues were higher, while 174 issues declined for a 3.70-to-1 ratio to the downside, with 11.59 million shares traded.
The largest percentage gainers on the TSX were Ballard Power, which jumped 5.4%, and Laurentian Bank of Canada, which rose 2.9%.
Hudbay Minerals fell 2.6%, the most on the TSX, while the second biggest decliner was Fortuna Silver Mines , down 2.3%.
The most heavily traded shares by volume were Pine Cliff Energy, Royal Bank of Canada and Tetra Bio Pharma.
The TSX posted four new 52-week highs and no new low.
Across all Canadian issues there were 35 new 52-week highs and no new low, with a total volume of 37.93 million shares.
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