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CANADA STOCKS-TSX slips as energy shares decline
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CANADA STOCKS-TSX slips as energy shares decline
Sep 10, 2024 11:48 PM

(Updated at 10:21 a.m. ET/ 1421 GMT)

By Nikhil Sharma

Sept 10 (Reuters) - Canada's main stock index fell on

Tuesday as energy shares slid, while investor caution ahead of

U.S. inflation data also weighed on the overall losses.

At 10:08 a.m. ET (14:08 GMT), the S&P/TSX composite index

was down 148.94 points, or 0.65%, at 22,878.21.

At least nine major sectors on the index nursed losses.

Energy shares led the sectoral losses with a 3%

fall, as oil prices edged lower on a weaker demand outlook and

global oil oversupply risks.

A bigger driver of the overall market loss was Wall Street,

where the S&P 500 index was marginally down as investors

awaited U.S. inflation data and signals on how far and fast the

Federal Reserve will cut rates.

Money markets unanimously see the Fed's first rate cut this

cycle at the Sept. 18 policy meeting.

Lagging shares on the TSX were Methanex Corp ( MEOH ), down

4.5%, Baytex Energy Corp ( BTE ), down 3.4%, and Precision

Drilling Corp ( PDS ), down 3%.

The leading shares were Kinross Gold Corp ( KGCRF ), up 2.5%,

and Aya Gold & Silver Inc ( AYASF ), up 2.3%.

Sixty-two issues rose and 160 fell on the index as a

0.4-to-1 ratio favored decliners. There were 10 new highs and

eight new lows, with total volume of 30.5 million shares.

The most heavily traded shares by volume were Canadian

Natural Resources Ltd ( CNQ ), Suncor Energy Inc ( SU ) and

Baytex Energy Corp. ( BTE )

West Texas Intermediate crude futures fell 3.26%, or

$2.27, to $66.44 a barrel. Brent crude fell 3.08%, or

$2.21, to $69.63

The TSX is up 9.3% for the year.

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