CANADA STOCKS-TSX drops as financials, energy stocks weigh

(Update prices)

By Medha Singh

April 2 (Reuters) - Canada's main stock index dropped onMonday, led by a slide in energy companies as crude oil pricestumbled and by declines in financial companies.

* U.S. stocks were also under pressure from a renewedsell-off in technology stocks, amid renewed fears of a trade warafter China raised tariffs by up to 25 percent on U.S. products,in response to U.S. duties on aluminum and steel imports.

* Oil fell by more than 2 percent, pressured by a rise inRussian production, expectations that Saudi Arabia will cutprices of the crude it sends to Asia and a deepening trade spatbetween China and the United States.

* As a results the energy sector sank 1.83percent. Shares of Enbridge fell 2.6 percent and thoseof TransCanada dropped 1.8 percent.

* The heavily weighted financial sector dropped0.95 percent, led by losses in Royal Bank of Canada,Bank of Nova Scotia and Toronto Dominion Bank.

* The financial and energy sectors together make up for morethan half the weight of TSX.

* At 12:25 p.m. ET (1625 GMT), the Toronto Stock Exchange'sS&P/TSX Composite Index was down 165.61 points, or1.08 percent, at 15,201.68.

* Gold prices rose, as investors turned to safe haveninvestments, and helped boost the stocks of gold miners. Thegold subsector was up 2.2 percent and sent thematerials index higher.

* The materials and utilities sectors were the only gainersamong the 11 major indexes.

* The largest percentage gainer on the TSX was printingcompany Transcontinental, which rose 9.6 percent on adeal to buy the U.S. unit of plastics packager Coveris HoldingsS.A for C$1.70 billion.

* The largest decliner on the TSX was Prometic Life Sciences, down 14.8 percent, after two brokerages trimmed theirprice targets on the stock.

* Prometic was also among the most active Canadian stocks byvolume, along with Aurora Cannabis, and Canopy Growth.

* Aurora Cannabis fell more than 5 percent after the chiefexecutive of CanniMed Therapeutics, which it isacquiring, resigned. CanniMed shares were down 4.9 percent.

* The TSX posted four new 52-week highs and seven new lows.Across all Canadian issues there were 13 new 52-week highs and29 new lows.

* Volume on the TSX index was 82.59 million shares, whilethe total volume on Monday was 130.80 million shares.(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyurand Savio D'Souza)

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