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TSX reverses early gains as gold stocks weigh

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index shed early gains to trade flat on Tuesday as gold stocks slipped on hopes surrounding a potential COVID-19 vaccine and positive U.S.-China trade front.

Aug 25 (Reuters) - Canada's main stock index shed early gains to trade flat on Tuesday as gold stocks slipped on hopes surrounding a potential COVID-19 vaccine and positive U.S.-China trade front.

* The energy sector .SPTTEN climbed 0.7% as U.S. crude CLc1 prices were up 1.9% a barrel, while Brent crude LCOc1 added 1.8%. O/R

* While the materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, lost 0.9% as gold futures GCc1 fell 0.5% to $1,918.7 an ounce. GOL/

* At 0940 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 3.85 points, or 0.02%, at 16,622.79.

* The financials sector .SPTTFS gained 0.5%, while the industrials sector .GSPTTIN fell 0.2%.

* On the TSX, 82 issues were higher, while 132 issues declined for a 1.61-to-1 ratio to the downside, with 11.12 million shares traded.

* The largest percentage gainers on the TSX were Bank of Montreal <BMO.TO>, which jumped 4.5% after the lender posted upbeat third-quarter numbers.

* Its gains were followed by oil producer Crescent Point Energy Corp <CPG.TO>, which rose 3.3%.

* The fuel-cell products developer Ballard Power Systems Inc <BLDP.TO> fell 4%, the most on the TSX, and the second-biggest decliner was Aurinia Pharmaceuticals Inc <AUP.TO>, down 3.1%.

* The most heavily traded shares by volume were Bombardier Inc <BBDb.TO>, D-BOX Technologies Inc <DBO.TO>, and Northern Dynasty Minerals Ltd <NDM.TO>.

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

* Across all Canadian issues there were 19 new 52-week highs and three new lows, with total volume of 26.07 million shares.

(Reporting by Amal S in Bengaluru, Editing by Sherry Jacob-Phillips)

((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.

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