US Markets

TSX falls due to Sino-U.S. tensions, rising coronavirus cases

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index fell on Friday, weighed by escalating tensions between the United States and China and fears of mounting coronavirus cases across the world.

July 24 (Reuters) - Canada's main stock index fell on Friday, weighed by escalating tensions between the United States and China and fears of mounting coronavirus cases across the world.

* Beijing ordered Washington to close its consulate in Chengdu, in retaliation for being told to shut its consulate in Houston earlier this week.

** Technology stocks fell 2.6%, leading losses in the region, weighed by e-commerce company Shopify Inc SHOP.TO tumbling 3.2%.

* At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 41.18 points, or 0.26%, at 15,977.47.

* For the third straight day, the United States recorded more than 1,100 deaths related to the novel coronavirus, while India reported over 49,000 fresh cases, marking the biggest daily surge in cases.

* The energy sector .SPTTEN climbed 0.5% as U.S. crude CLc1 prices were up 0.5% a barrel, while Brent crude LCOc1 added 0.3%. O/R

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 0.8%. GOL/

* On the TSX, 64 issues were higher, while 153 issues declined for a 2.39-to-1 ratio to the downside, with 8.08 million shares traded.

* The largest percentage gainer on the TSX was Mullen Group Ltd <MTL.TO>, which jumped 7.3%, after multiple brokerages turned hiked their price target on the freight transportation provider after it reported results on Thursday.

* Its gains were followed by Winpak Ltd <WPK.TO>, which rose 6.1%, after two brokerages raised their price target on the stock after the packaging materials manufacturer reported quarterly profit that topped estimates.

* Ballard Power Systems Inc <BLDP.TO> fell 6.3%, the most on the TSX, and the second biggest decliner was First Quantum Minerals Ltd <FM.TO>, down 3.7%.

* The most heavily traded shares by volume were Royal Bank of Canada <RY.TO>, down 0.3%; Northern Dynasty Minerals Ltd <NDM.TO> and Bombardier Inc <BBDb.TO>, down 2.2%.

* The TSX posted no new 52-week high and no new low.

* Across all Canadian issues there were 18 new 52-week highs and no new low, with total volume of 22.09 million shares.

(Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)

((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))

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

In This Story

SHOP MTL BLDP FM RY

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More