{"id":125662,"date":"2021-05-19T14:50:44","date_gmt":"2021-05-19T14:50:44","guid":{"rendered":"https:\/\/precoinnews.com\/?p=125662"},"modified":"2021-05-19T14:50:44","modified_gmt":"2021-05-19T14:50:44","slug":"canada-stocks-tsx-weighed-by-energy-stocks-inflation-data","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/canada-stocks-tsx-weighed-by-energy-stocks-inflation-data\/","title":{"rendered":"CANADA STOCKS-TSX weighed by energy stocks, inflation data"},"content":{"rendered":"
May 19 (Reuters) – Canada\u2019s main stock index fell on Wednesday, dragged down by energy stocks after oil prices fell on demand concerns and as data showed inflation rose in April.<\/p>\n
* Inflation in Canada rose at its fastest pace in a decade in April, mostly due to the statistical comparison to last year when prices tanked amid pandemic shutdowns, but also as gasoline and shelter costs rose, data showed on Wednesday.<\/p>\n
* At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange\u2019s S&P\/TSX composite index was down 198.19 points, or 1.02%, at 19,308.86.<\/p>\n
* The energy sector dropped 2.4% as U.S. crude prices were down 2.7% a barrel, while Brent crude lost 2.5%.<\/p>\n
* Aviation training specialist CAE Inc fell 6.4% after reporting a 77% drop in fourth-quarter profit, as demand for its full-flight simulators and pilot drills remained stressed due to the COVID-19 pandemic.<\/p>\n
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6%.<\/p>\n
* On the TSX, 21 issues were higher, while 206 issues declined for a 9.81-to-1 ratio to the downside, with 20.51 million shares traded.<\/p>\n
* The largest percentage gainer on the TSX was Wesdome Gold Mines, which jumped 9.9%, after the expansion of its mine in Quebec.<\/p>\n
* Franco Nevada Corp rose 2.1% after Credit Suisse raised its target price to $145 from $130<\/p>\n
* First Quantum Minerals fell 6.7%, the most on the TSX, after selling the company sold its Australia nickel mine stake.<\/p>\n
* The second biggest decliner was Nexgen Energy, down 6.3%.<\/p>\n
* The most heavily traded shares by volume were Enbridge Inc , Sun Life Financial and Western Forest products.<\/p>\n
* The TSX posted one new 52-week high and no new low.<\/p>\n
* Across all Canadian issues there were 10 new 52-week highs and 17 new lows, with total volume of 41.45 million shares.<\/p>\n