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News, North America

TSX eyes worst day in a month on weaker crude, inflation concerns

(Updates prices, adds sector details)

Feb 23 (Reuters) – Canada’s main stock index fell on Tuesday and was set for its worst session in nearly a month as weaker crude prices weighed on energy stocks, while worries over rising inflation hit the materials sector.

* The energy sector dropped 2.8%, while the materials sector, which includes precious and base metals miners and fertilizer companies, lost 3.4%. Recently, concerns about accelerating inflation have hit equities worldwide.

* At 9:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 341.28 points, or 1.85%, at 18,075.46.

* The financials sector gained 0.5%. The industrials sector fell 0.3%.

* On the TSX, 37 issues were higher, while 181 issues declined for a 4.89-to-1 ratio to the downside, with 43.52 million shares traded.

* Pot producer Aphria Inc fell 18.7%, the most on the TSX, and the second-biggest decliner was Ballard Power Systems Inc, down 15.2%.

* The largest percentage gainer on the TSX was Thomson Reuters Corp, which jumped 8.8% after the news and information group posted a higher fourth-quarter revenue.

* Its gains were followed by Equitable Group Inc, which rose 5.5% after multiple brokerages raised their price targets for the financial service provider’s stock.

* The most heavily traded shares by volume were Manulife Financial Corp, Supreme Cannabis Company Inc, and Zenabis Global Inc.

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

* Across all Canadian issues there were 38 new 52-week highs and 18 new lows, with total volume of 111.71 million shares. (Reporting by Amal S in Bengaluru; Editing by Aditya Soni)

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