April 30, 2020 / 3:07 PM / 2 months ago

CANADA STOCKS-TSX slides as Feb GDP stays flat due to teachers strike, COVID-19

April 30 (Reuters) - Canada’s main stock index fell on Thursday as the country’s economic growth stagnated in February due a teacher’s strike and the coronavirus pandemic.

The latest GDP data released suggests that a teacher’s strike in Ontario and disruption in transportation and warehousing due to the pandemic stagnated the country’s economy in February.

* Breaking a four-day rally, the Toronto Stock Exchange’s S&P/TSX composite index was down 185.46 points, or 1.22%, at 15,042.65 by 09:57 a.m. ET (13:57 GMT).

* Wall Street indexes, meanwhile, fell as weekly jobless claims in the United States continued to climb.

* The energy sector traded flat. U.S. crude prices were up 15.1% a barrel, while Brent crude added 13%.

* The financials sector slipped 1.7%, while the industrials sector fell 1.1%.

* On the TSX, 46 issues gained, while 181 issues declined for a 3.93-to-1 ratio to the downside, with 58.37 million shares traded.

* The largest percentage gainers on the TSX were Crescent Point Energy Corp and Shawcor Ltd, which jumped 9.4% and 9.2% respectively.

* Gildan Activewear Inc fell 10.0%, the most on the TSX, after multiple brokerages cut price target on the stock after its first-qaurter sales fell and on grim forecast.

* The second-biggest decliner was BRP Inc, down 6.8%.

* The most heavily traded shares by volume were Bombardier Inc, up 1%; Baytex Energy Corp, up 6.8% and Cenovus Energy Inc, up 2.4%.

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

* Across all Canadian issues there were five new 52-week highs and no new lows, with total volume of 95.97 million shares. (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)

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