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TSX dips on surging virus cases, U.S.-China tensions

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index fell on Tuesday, over fears of further curbs on business activity amid a global surge in coronavirus infections and simmering tensions between U.S. and China.

July 14 (Reuters) - Canada's main stock index fell on Tuesday, over fears of further curbs on business activity amid a global surge in coronavirus infections and simmering tensions between U.S. and China. * The top U.S. diplomat for East Asia said on Tuesday that the United States could respond with sanctions against Chinese officials and enterprises involved in coercion in the South China Sea. * Oil prices fell on Tuesday with OPEC+ set to taper its record production cut of 9.7 million barrels per day (bpd) to 7.7 million bpd from August through December.

* At 9:49 a.m. ET (13:56 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 17.75 points, or 0.11%, at 15,621.66.

* The energy sector .SPTTEN climbed 0.9% even as U.S. crude CLc1 prices were down 0.5% a barrel, while Brent crude LCOc1 lost 0.1%. O/R

* The financials sector .SPTTFS slipped 0.2%. The industrials sector .GSPTTIN fell 0.1%.

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.4% as gold futures GCc1 fell 0.3% to $1,806.2 an ounce.GOL/

* On the TSX, 91 issues were higher, while 122 issues declined for a 1.34-to-1 ratio to the downside, with 28.23 million shares traded.

* The largest percentage gainers on the TSX were Parklnd Corp PKI.TO, which jumped 2.6% and Innergex Renewable Energy Inc INE.TO, which rose 2.4%.

* First Quantum Minerals Ltd FM.TO fell 4.7%, the most on the TSX. The second biggest decliner was Teck Resources Ltd TECKb.TO, down 3.7%.

* The most heavily traded shares by volume were The Toronto-Dominion Bank TD.TO, down 0.5%; Zenabis Global Inc ZENA.TO, which was flat and Nevada Copper Corp NCU.TO, down 18.9%.

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

* Across all Canadian issues there were 5 new 52-week highs and one new low, with total volume of 61.13 million shares.

(Reporting by Shivani Kumaresan in Bengaluru)

((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))

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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