January 22, 2020 / 3:25 PM / a month ago

CANADA STOCKS-TSX hits record high after cenbank leaves door open for rate cut

Jan 22 (Reuters) - Canada’s main stock index scaled an all-time peak on Wednesday after the central bank maintained its key overnight interest rate but opened the door to a possible cut should a slowdown in Canadian growth drag on.

* At 10:20 a.m. ET (1520 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 82.36 points, or 0.47%, at 17,654.64.

* The Bank of Canada has held interest rates steady since October 2018 even as several of its international counterparts have eased monetary policy.

* Data by Statistics Canada earlier showed the country’s annual inflation rate held steady at 2.2% in December, supported by higher energy prices and balanced out by slower cost gains in food and cars.

* The interest rate sensitive financials sector was up 0.3%.

* The energy sector dropped 0.6% as U.S. crude prices were down 2.2% a barrel, while Brent crude lost 1.8%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.2%.

* On the TSX, 140 issues were higher, while 89 issues declined for a 1.57-to-1 ratio favouring gainers, with 16.68 million shares traded.

* The largest percentage gainer on the TSX was Bombardier , which jumped 7%, rising for the second day after a report of talks to combine its rail unit with French peer Alstom .

* Spin Master Corp fell 5.2%, the most on the TSX, after the toymaker lowered its forecast for holiday quarter sales.

* The most heavily-traded shares by volume were Bombardier, Royal Bank of Canada and Encana Corp.

* The TSX posted 29 new 52-week highs and no new lows.

* Across all Canadian issues there were 102 new 52-week highs and five new lows, with total volume of 53.02 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Aditya Soni)

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