September 27, 2019 / 2:53 PM / 18 days ago

CANADA STOCKS-Miners put TSX on course for first weekly loss in five

(Updates)

Sept 27 (Reuters) - Canada’s main stock index fell on Friday, putting it on course for its first weekly loss in five, as shares in miners dropped due to a 1% decline in gold prices.

* The materials sector, which includes precious and base metals miners, lost 1.3% after gold prices fell amid a strengthening U.S. dollar. Silver also fell more than 1%.

* Shares of Yamana Gold and Kinross Gold were the top losers on the main index, down about 4% each, while shares in First Majestic Silver Corp and Pan American Silver Corp fell about 3%.

* At 10:20 a.m. ET (1420 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 59.75 points, or 0.36%, at 16,730.65.

* The energy sector dropped 0.5% as oil prices fell on a faster-than-expected recovery in Saudi output, while slowing Chinese economic growth dampened the demand outlook.

* Canadian stocks were set for their worst weekly declines since mid-August as worries about the U.S.-China trade war, an impeachment probe of U.S. President Donald Trump and weak economic data in Europe and China all fed into fears of a global recession.

* Shares in cannabis producer Canopy Growth fell 1.4% after a report said Bank of America Merrill Lynch expects growth in the sector to pause in the second half and potentially flatten. Shares of rivals Cronos Group and Aphria Inc fell more than 1% each.

* Shares in First Quantum recovered from their worst one-day percentage fall in a month on Thursday, becoming the top gainer on the TSX with a 4.6% gain.

* The most heavily traded shares by volume were New Gold Inc, Encana Corp and Yamana Gold Inc.

* The TSX posted five new 52-week highs and one new low.

* Across all Canadian issues, there were 18 new 52-week highs and eight new lows, with total volume of 53.10 million shares.

* On the TSX, 62 issues were higher, while 165 issues declined for a 2.66-to-1 ratio to the downside, with 29.39 million shares traded. (Reporting by Sruthi Shankar in Bengaluru; Editing by Maju Samuel)

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