Renewable Energy

TSX lower as weak gold prices hit mining stocks

Credit: REUTERS/THOMAS WHITE

Precious metal miners led the declines on Canada's main stock index on Tuesday, as gold prices dropped to a more than two-week low.

May 21 (Reuters) - Precious metal miners led the declines on Canada's main stock index on Tuesday, as gold prices dropped to a more than two-week low.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 46.99 points, or 0.29%, at 16,354.76.

* Global stocks rose and Wall Street opened higher as technology shares rebounded after Washington temporarily eased trade restrictions imposed last week on China's Huawei. MKTS/GLOB

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 1.4%, the most among 11 major sectors.

* Spot gold XAU= was down 0.5% at $1,270.71 an ounce as the dollar strengthened and improved risk appetite took the sheen off bullion. GOL/MET/L

* The energy sector .SPTTEN fell 0.4% even as U.S. crude CLc1 prices were down 0.3% a barrel, while Brent crude LCOc1 added 0.1%. O/R

* The heavyweight financials sector .SPTTFS slipped 0.2%, while the industrials sector .GSPTTIN fell 0.3%.

* On the TSX, 87 issues were higher, while 141 issues declined for a 1.62-to-1 ratio, with 17.03 million shares traded.

* The largest percentage gainers on the TSX were Premium Brands Holdings PBH.TO, which jumped 5.8% after the processed food company received a private placement from Canada Pension Plan Investment Board for gross proceeds of C$200 million.

* Second biggest gainer was Dollarama Inc DOL.TO, up 3.1%, after Wells Fargo raised rating on the discount chain's shares to "outperform" from "market perform".

* First Quantum Minerals FM.TO fell 5.4%, the most on the TSX. The second biggest decliner was Eldorado Gold ELD.TO, down 4.6%.

* The most heavily traded shares by volume were Sun Life Finl SLF.TO, Avalon Advanced Materials Inc AVL.TO and Aurora Cannabis ACB.TO.

* The TSX posted seven new 52-week highs and four new lows.

* Across all Canadian issues there were 18 new 52-week highs and eight new lows, with total volume of 27.87 million shares.

(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)

((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs; Reuters Messaging: medha.singh.thomsonreuters.com@reuters.net))

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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