TSX flat on dismal retail sales data; energy stocks gain

Canada's main stock index was flat on Wednesday as data showed domestic retail sales plunged in April and May, while energy stocks advanced on stronger crude prices.

The nation's retail trade fell 5.7% in April, the sharpest decline in a year, as shops and other businesses were shuttered amid a third wave of COVID-19 infections, Statistics Canada data showed.

The energy sector climbed 1.4% as US crude prices were up 1.6% a barrel, while Brent crude added 1.3%.

At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 3.54 points, or 0.02%, at 20,204.19.

The financials sector inched down 0.1% and the industrials sector fell 0.4%.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures rose 0.3% to $1,780.7 an ounce.

On the TSX, 115 issues were higher, while 111 issues declined for a 1.04-to-1 ratio favouring gainers, with 13.85 million shares traded.

The largest percentage gainers on the TSX were lithium miner Lithium Americas Corp, which jumped 3.7%, and miner Teck Resources Ltd, up 3.5%.

Empire Company Ltd fell 4.9%, the most on the TSX, after the conglomerate warned that it expects the pandemic to continue affecting the company during 2022, including its same-store sales.

The second-biggest decliner was uranium miner Nexgen Energy Ltd, down 3.6%.

The most heavily traded shares by volume were Power Corporation of Canada, TC Energy Corp and Surge Energy Inc.

The TSX posted 10 new 52-week highs and one new low.

Across all Canadian issues there were 48 new 52-week highs and eight new lows, with a total volume of 26.45 million shares.