CANADA STOCKS-TSX drops on weak commodity prices; set for weekly gains

  • 4/9/2021
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(Updates prices, adds sector details) April 9 (Reuters) - Canada’s main stock index fell on Friday, weighed by weak metal and oil prices, but was set to record a fifth consecutive week of gain on optimism around a faster economic recovery. * The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.7% as gold futures fell 1.1% to $1,737.70 an ounce. * At 9:45 a.m. ET (13:45 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 54.51 points, or 0.28%, at 19,174.36. * Canada added far more jobs than expected in March, and the unemployment rate dropped to its lowest point since before the pandemic, Statistics Canada data showed. * The energy sector climbed 0.2% even as U.S. crude prices were down 0.6% a barrel and Brent crude slipped 0.6%. * The financials sector gained 0.1%, while the industrials sector fell 0.1%. * On the TSX, 67 issues were higher, while 154 issues declined for a 2.30-to-1 ratio to the downside, with 14.88 million shares traded. * The largest percentage gainers on the TSX were Corus Entertainment, which jumped 6.5%, and Turquoise Hill Resources, up6.1%. * New Gold fell 3.6%, the most on the TSX, while the second biggest decliner was First Majestic Silver, down 2.8%. * The most heavily traded shares by volume were The Supreme Cannabis Co, which was flat, PhX Energy Services , down 0.7%, and Corus Entertainment, up 6.5%. * The TSX posted 16 new 52-week highs and no new lows. * Across all Canadian issues, there were 51 new 52-week highs and one new low, with total volume of 33.75 million shares. (Reporting by Shashank Nayar in Bengaluru; Editing by Shinjini Ganguli)

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