August 23, 2018 / 11:35 AM / 8 months ago

TSX slips as gold miners weigh

(Reuters) - Canada’s main stock index slipped on Thursday as falling gold prices led to losses in shares of precious metals miners, with new U.S-China tariffs weighing on the sentiment.

FILE PHOTO - A man walks past an old Toronto Stock Exchange (TSX) sign in Toronto, Ontario, Canada on June 23, 2014. REUTERS/Mark Blinch/File Photo

- Gold prices were under pressure from a stronger dollar as the U.S. Federal Reserve reaffirmed intentions to raise interest rates and trade tariffs between the United States and China kicked in. [GOL/]

- Eight of the index’s 11 major sectors were lower, led by the material group’s .GSPTTMT 1.1 percent fall.

- Detour Gold Corp (DGC.TO) fell 5.3 percent, the most on the TSX, while the second biggest decliner was First Majestic Silver (FR.TO), down 3.8 percent.

- Also weighing on the TSX was the energy sector’s .SPTTEN 0.6 percent drop due to lower crude oil prices. [O/R]

- At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 29.06 points, or 0.18 percent, at 16,318.28.

- On the TSX, 79 issues were higher, while 157 issues declined for a 1.99-to-1 ratio to the downside, with 18.32 million shares traded.

- In a bright spot, Canadian Imperial Bank of Commerce (CM.TO) rose 0.65 percent after the country’s fifth-biggest lender, reported third-quarter earnings which beat expectations.

- The largest percentage gainers on the TSX was Air Canada (AC.TO) up 2.8 percent and Shopify (SHOP.TO) 2.6 percent.

- The most heavily traded shares by volume were Aurora Cannabis (ACB.TO) down 1.5 percent after the company received approval from Health Canada to produce cannabis softgel capsules at its Aurora Vie facility.

- Also among the most actively traded stocks was Baytex Energy (BTE.TO) and Canopy Growth Co (WEED.TO).

- The TSX posted three new 52-week highs and three new lows.

- Across all Canadian issues there were 12 new 52-week highs and 13 new lows, with total volume of 26.16 million shares.

Reporting by Amy Caren Daniel in Bengaluru

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