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News, North America

TSX slips as virus surge weighs on energy stocks

July 7 (Reuters) – Canada’s main stock index retreated on Tuesday, with energy shares leading declines, on worries about the slower pace of an economic rebound after U.S. cases of COVID-19 surged.

* Florida’s greater Miami area became the latest U.S. coronavirus hot spot to roll back its reopening, and, for an eighth straight day, Texas registered an all-time high in the number of people hospitalized at any one moment.

* Oil prices fell amid concerns of lower demand due to surging infections, pushing the energy sector 1.5% lower.

* At 9:45 a.m. ET (1345 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 61.35 points, or 0.39%, at 15,608.32.

* The Canadian dollar weakened against its U.S. counterpart, with the loonie pulling back from a near two-week high hit the day before.

* Among other individual sectors and stocks, financials slipped 1.0% and industrials 0.2%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2% after bullion prices fell.

* On the TSX, 44 issues were higher, while 173 issues declined for a 3.93-to-1 ratio to the downside, with 15.71 million shares traded.

* The largest percentage gainers on the TSX were Shopify Inc , which jumped 2.2% and First Quantum Minerals Ltd , which rose 1.8%.

* Enerplus Corp fell 5.2%, the most on the TSX. The second biggest decliner was Cenovus Energy Inc, down 3.5%.

* The most heavily traded shares by volume were The Toronto-Dominion Bank, down 0.8%; St. Augustine Gold and Copper Ltd, up 25.0% and Argonaut Gold inc, down 7.5%.

* The TSX posted 1 new 52-week highs and no new lows.

* Across all Canadian issues there were 19 new 52-week highs and no new lows, with total volume of 34.64 million shares. (Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V)


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