CANADA STOCKS-TSX lower as weak gold prices hit mining stocks

May 21 (Reuters) - Precious metal miners led the declines on Canada’s main stock index on Tuesday, as gold prices dropped to a more than two-week low.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 46.99 points, or 0.29%, at 16,354.76.

* Global stocks rose and Wall Street opened higher as technology shares rebounded after Washington temporarily eased trade restrictions imposed last week on China’s Huawei.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.4%, the most among 11 major sectors.

* Spot gold was down 0.5% at $1,270.71 an ounce as the dollar strengthened and improved risk appetite took the sheen off bullion.

* The energy sector fell 0.4% even as U.S. crude prices were down 0.3% a barrel, while Brent crude added 0.1%.

* The heavyweight financials sector slipped 0.2%, while the industrials sector fell 0.3%.

* On the TSX, 87 issues were higher, while 141 issues declined for a 1.62-to-1 ratio, with 17.03 million shares traded.

* The largest percentage gainers on the TSX were Premium Brands Holdings, which jumped 5.8% after the processed food company received a private placement from Canada Pension Plan Investment Board for gross proceeds of C$200 million.

* Second biggest gainer was Dollarama Inc, up 3.1%, after Wells Fargo raised rating on the discount chain’s shares to “outperform” from “market perform”.

* First Quantum Minerals fell 5.4%, the most on the TSX. The second biggest decliner was Eldorado Gold, down 4.6%.

* The most heavily traded shares by volume were Sun Life Finl, Avalon Advanced Materials Inc and Aurora Cannabis.

* The TSX posted seven new 52-week highs and four new lows.

* Across all Canadian issues there were 18 new 52-week highs and eight new lows, with total volume of 27.87 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)