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Markets

TSX down as commodity-linked stocks weigh

  • Toronto Stock Exchange's S&P/TSX composite index was down 54.11 points, or 0.27%, at 20,257.67
  • The financials sector slipped 0.2%. The industrials sector remain unchanged.
30 Jul, 2021

Canada's main stock index fell on Friday, weighed by weakness in energy and mining stocks, while official data showed the nation's economy most likely expanded in June.

The energy sector dropped 0.8% on weaker crude prices, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.3% as gold futures fell 0.3% to $1,825 an ounce.

At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 54.11 points, or 0.27%, at 20,257.67.

Statistics Canada said the Canadian economy most likely expanded by 0.7% in June as businesses reopened after shutdowns imposed to help fight the coronavirus pandemic.

TSX rises as miners rally on higher gold prices

While producer prices in Canada were unchanged in June from May as a decline in lumber prices offset rises in other categories, Statistics Canada said.

Eldorado Gold Corp fell 4.5%, the most on the TSX, after the miner missed its second-quarter revenue estimates, and the second biggest decliner was lithium miner Lithium Americas Corp, down 2.2%.

The financials sector slipped 0.2%. The industrials sector remain unchanged.

On the TSX, 83 issues were higher, while 137 issues declined for a 1.65-to-1 ratio to the downside, with 9.08 million shares traded.

The largest percentage gainers on the TSX were Restaurant Brands International Inc, which jumped 3.9% after the restaurant chain posted an upbeat second-quarter results and construction company SNC-Lavalin Group Inc , which rose 2.9% after reporting its second-quarter earnings.

Canadian dollar adds to last week's gains as greenback slides

The most heavily traded shares by volume were Bank of Montreal, Canadian Utilities Ltd, and Emera Inc .

The TSX posted no new 52-week highs and no new lows.

Across all Canadian issues there were 17 new 52-week highs and three new lows, with total volume of 16.95 million shares.

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