TSX lower as weak gold prices hit mining stocks


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.

More Related Articles

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.