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CANADA STOCKS-TSX inches lower as financial, energy sectors weigh

Mon, 02nd Apr 2018 15:20

April 2 (Reuters) - Canada's main stock index fell on Mondaydue to losses in the financial and energy sectors amid a revivalin trade war fears after China decided to impose additionalduties on U.S. products.

* At 9:52 a.m. ET (1352 GMT), the Toronto Stock Exchange'sS&P/TSX Composite Index fell 87.97 points, or 0.57percent, to 15,279.32.

* The financial and energy sectors that together make up formore than half the weight of TSX slipped about 35 points each.

* Enbridge and TransCanada Corp fell morethan 1 percent each and were the biggest drag on the energysector as crude prices slipped.

* Royal Bank of Canada and Toronto Dominion Bankslipped more than 0.5 percent each and were the biggestlags on the heavyweight financial sector.

* China raised tariffs by up to 25 percent on U.S. products,in response to U.S. duties on aluminum and steel imports,rekindling trade war concerns.

* Oil fell to around $69 a barrel on Monday, reversing anearlier rally, as a rise in Russian production and concern abouta U.S.-China trade spat offset a drop in U.S. drillingactivity.

* The materials sector, which takes up nearly 12 percent ofthe index's weight, along with utilities sector were the onlytwo among the 11 sectors in positive territory.

* The largest percentage gainer on the TSX was the shares ofthe printing company Transcontinental, which rose 6.1percent on a deal to buy the U.S. unit of plastics packagerCoveris Holdings S.A for C$1.70 billion.

* The largest decliner was Prometic Life Sciences,down 6.8 percent, after two brokerages trimmed their pricetargets on the stock.

* Among the most active Canadian stocks by volume werePrometic Life Sciences, Aurora Cannabis, andNeovasc Inc.

* The TSX posted four new 52-week highs and two new lows.Across all Canadian issues there were 11 new 52-week highs and12 new lows.

* Volume on the TSX index was 19.41 million shares, whilethe total volume on Monday was 31.29 million shares.(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)

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