CANADA STOCKS-Toronto shares hit six-week low as resources drag

By Kitco News / January 29, 2018 / www.kitco.com / Article Link

(Updates to close, adds details)

Jan 29 (Reuters) - Canada's main stock index fell on Monday, touching a six-week low as energy and other resource shares tumbled alongside commodity prices.

* The Toronto Stock Exchange's S&P/TSX composite index ended down 144.5 points, or 0.89 percent, at 16,094.72.

* The index hit a session low of 16,090.66, its weakest intra-day level since Dec. 15. All but one of the index's 10 main sectors were in negative territory.

* The energy group retreated 1.8 percent as U.S. crude prices settled down 58 cents at $65.56 a barrel, driven lower by a stronger U.S. dollar and rising crude output. * Enbridge Inc was the biggest drag on the index, down 1.5 percent at C$46.35, followed by Suncor Energy , which declined 1.5 percent to C$45.53.

* The firmer greenback also weighed on gold prices, sending gold producers in Toronto down 3 percent. Barrick Gold fell 2.9 percent to C$17.68. * Cannabis company Aphria Inc fell 5.8 percent to C$18.99 after it said it would buy rival Nuuvera Inc for C$826 million ($670 million). Nuuvera jumped 10.4 percent to C$7.73. * Shares of cannabis companies generally came under pressure following last week's deal between Aurora Cannabis Inc and CanniMed Therapeutics Inc , which would create the world's top marijuana producer by market value. Canopy Growth was down 5.7 percent at C$33.10 * The TSX posted nine 52-week highs and three new lows. Across all Canadian issues, there were 73 new 52-week highs and 43 new lows.

* Among the most active Canadian stocks by volume, Bombardier was up 1.7 percent at C$3.60 after a U.S. trade commission on Friday backed the Canadian plane maker in a trade dispute with Boeing . * Volume on the TSX index was 200.16 million shares.


(Reporting by Leah Schnurr; Editing by Peter Cooney)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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