August 28, 2018 / 2:15 PM / 3 months ago

CANADA STOCKS-TSX dips due to losses in marijuana stocks

Aug 28 (Reuters) - Canada’s main stock index dipped on Tuesday as losses in the healthcare sector led by marijuana companies overshadowed gains in precious metal miners as gold prices edged higher.

* Cannabis producers Canopy Growth, Aurora Cannabis and Aphria fell between 6 percent and 8 percent and were the biggest decliners on the main index.

* Also weighing was the heavyweight financial sector’s 0.3 percent fall, led by Canada’s third-biggest lender Bank of Nova Scotia, which reported third-quarter earnings in line with market expectations.

* However, rival Bank of Montreal rose 0.3 percent after topping third-quarter earnings estimates, helped by growth in the United States.

* Only three of the index’s 11 major sectors were higher, led by the material sector’s 0.6 percent rise.

* Gold edged higher, helped by weakness in the dollar but analysts said ongoing U.S.-China tensions would continue to weigh.

* Investors expect Canada would agree to new terms to preserve a three-nation pact after the United States and Mexico reached a deal to overhaul the North American Free Trade Agreement.

* At 9:54 a.m. ET (13:54 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 31.65 points, or 0.19 percent, at 16,412.74.

* On the TSX, 101 issues were higher, while 135 issues declined for a 1.34-to-1 ratio to the downside, with 30.42 million shares traded.

* The largest percentage gainers on the TSX were shares of Canadian auto-part makers Linamar Corp, which jumped 4.7 percent and Martinrea International, which rose 3.9 percent.

* The most heavily traded shares by volume were Aurora Cannabis, Aphria Inc and Canopy Growth Co.

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

* Across all Canadian issues there were 19 new 52-week highs and 8 new lows, with total volume of 50.34 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koyyur)

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