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CANADA STOCKS-TSX flat as weak economic data offsets vaccine hopes

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index was muted on Friday as concerns over rising global infections and signs of a stalling economic recovery offset optimism over progress in a possible COVID-19 vaccine.

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Oct 16 (Reuters) - Canada's main stock index was muted on Friday as concerns over rising global infections and signs of a stalling economic recovery offset optimism over progress in a possible COVID-19 vaccine.

* At 9:39 a.m. ET (1339 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 0.01 points at 16,501.02 and was set to edge lower for the week.

* Canadian stock futures had risen after American drugmaker Pfizer Inc PFE.N said it could apply for U.S. emergency use of its COVID-19 vaccine candidate as soon as a safety milestone is achieved in the third week of November.

* But local data showed Canadian manufacturing sales fell by 2.0% in August, following three months of consecutive gains, indicating that local consumption was still under pressure from the pandemic.

* Heavyweight energy stocks .SPTTEN dropped 1.7% tracking weaker crude prices as resurgent coronavirus cases around the globe brewed fears of declining demand. O/R

* The financials sector .SPTTFS gained 0.3%, while the industrials sector .GSPTTIN rose 0.2%.

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.5%.

* On the TSX, 87 issues rose, while 129 issues fell in a 1.48-to-1 ratio favoring losers, with 9.77 million shares traded.

* The largest percentage gainers on the TSX were Ci Financial CIX.TO, which rose 2.9%, and Silvercorp Metal SVM.TO, which rose 2.4%.

* Imperial Oil IMO.TO fell 2.5%, the most on the TSX, while the second biggest decliner was BRP Inc DOO.TO, down 2.4%.

* The most heavily traded shares by volume were Vivo Cannabs Inc VIVO.TO, First Mining Gld FF.TO, and Orosur Minng Inc OMI.TO.

* The TSX posted nine new 52-week highs and one new low.

* Across all Canadian issues, there were 25 new 52-week highs and three new lows, with 21.84 million shares traded.

(Reporting by Ambar Warrick in Bengaluru; Editing by Vinay Dwivedi)

((Ambar.Warrick@thomsonreuters.com; +91-80-6182-2837; Reuters Messaging: ambar.warrick.thomsonreuters.com@reuters.net; Twitter: @AmbarWarrick))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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