Canadian stocks drop as coronavirus concerns, oil weakness weigh

FILE PHOTO: Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren/File Photo

(Reuters) - Canada’s main stock index fell on Wednesday as concerns over the coronavirus pandemic continued to prompt selling in equities, while weakness in oil prices added to the pressure.

- At 9:54 a.m. ET (1354 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 410.13 points, or 3.23%, at 12,275.08.- Equities around the globe were sold off in spades as investors digested a swathe of recent stimulus measures to combat an economic slowdown.

- The heavyweight energy sector dropped 6% as oil prices tumbled in the face of lower demand caused by social lockdowns.

- On the TSX, 36 issues were higher, while 192 issues declined for a 5.33-to-1 ratio to the downside, with 58.37 million shares traded.

- Exchange Income fell 19.3%, the most on the TSX, after it withdrew its guidance for 2020. The second biggest decliner was Aritzia Inc, down 16%.

- The largest percentage gainers on the TSX were Tourmaline Oil, which jumped 8.1%, and MAG Silver Corp, which rose 6.7%.

- The most heavily traded shares by volume were Bombardier B and Torc Oil & Gas.

- The TSX posted no new 52-week highs and 91 new lows.

- Across all Canadian issues, there were 6 new 52-week highs and 308 new lows, with total volume of 99.54 million shares.

Reporting by Ambar Warrick in Bengaluru, Editing by Sherry Jacob-Phillips and Shinjini Ganguli