TSX falls on energy declines, weak home sales data
- Toronto Stock Exchange's S&P/TSX composite index was down 35.24 points, or 0.17%, at 20,112.
- Canadian home sales fell 8.4% in June from May, with the average selling price inching down.
Canada's main stock index fell on Thursday, as energy stocks tracked lower crude prices and data showed domestic home sales fell sequentially in June.
The energy sector dropped 0.6% after crude prices extended losses as investors braced for increased supplies after a compromise deal between leading producers and as US fuel stocks rose.
At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 35.24 points, or 0.17%, at 20,112.
Canadian home sales fell 8.4% in June from May, with the average selling price inching down, data from the Canadian Real Estate Association showed.
Canada's hot housing market cools as buyers eye post-COVID life
Forest products company Canfor Corporation fell 2.9%, the most on the TSX, and the second biggest decliner was oil producer MEG Energy Corp, down 2.2%.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures rose 0.1% to $1,826.1 an ounce.
On the TSX, 63 issues were higher, while 151 issues declined for a 2.40-to-1 ratio to the downside, with 11.06 million shares traded.
The largest percentage gainer on the TSX was OrganiGram Holdings Inc, which jumped 3.7%, as the pot producer launched a cannabis innovators panel.
Its gains were followed by mining company Lithium Americas Corp, which rose 3.4%.
Pot stocks lift TSX after OrganiGram's strong results
The most heavily traded shares by volume were Bombardier Inc, Horizonte Minerals PLC and Suncor Energy Inc.
The TSX posted no new 52-week highs and no new low.
Across all Canadian issues there were 23 new 52-week highs and five new lows, with a total volume of 24.51 million shares.
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