October 9, 2018 / 2:19 PM / a month ago

CANADA STOCKS-TSX slips as global growth worries weigh

Oct 9 (Reuters) - Canada’s main stock index fell broadly on Tuesday, taking cues from world markets, after the International Monetary Fund cut its forecasts for global economic growth, blaming tariff war.

* The IMF cut its global economic growth forecasts for 2018 and 2019, saying the U.S-China trade war was taking a toll and emerging markets were struggling with tighter liquidity and capital outflows.

* Nine of the 11 major sectors were lower, led by the materials sector’s 0.88 percent fall.

* The sector, which includes precious and base metals miners and fertilizer companies, was weighed by gold prices, which fell due to a stronger dollar and bullish U.S. interest rate outlook.

* At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 77.08 points, or 0.48 percent, at 15,869.09.

* On the macro front, data from the national housing agency showed Canadian housing starts fell in September, compared with the previous month, as multiple urban starts tumbled 8.9 percent, offsetting a 2 percent rise in single-detached urban starts.

* On the TSX, 57 issues were higher, while 182 issues declined for a 3.19-to-1 ratio to the downside, with 25.38 million shares traded.

* The biggest percentage gainers on the TSX were cannabis producer Canopy Growth Co, which jumped 3.7 percent, followed by New Gold, which rose 3.0 percent.

* Ritchie Bros Auctioneers fell 8.1 percent, the most on the TSX, while the second-biggest decliner was packaging products and paper company Cascades, which slipped 6.6 percent.

* Among the most heavily traded shares by volume was Aurora Cannabis and Wallbridge Mining Co.

* The TSX posted no new 52-week highs and 14 new lows.

* Across all Canadian issues there were four new 52-week highs and 63 new lows, with total volume of 44.59 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Anil D’Silva)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below