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June 24, 2020, 9:04 p.m. EDT

Stocks Wilt on Outbreak Worries

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Jun 24, 2020 ( via COMTEX) -- Canada's main stock index retreated on Wednesday, led by energy shares, as worries about another wave of coronavirus infections and record-high oil inventories weighed on the prices of the commodity.

The S&P/TSX Composite Index headed lower approaching noon by 218.44 points, or 1.4%, to 15,346.31.

The Canadian dollar sagged 0.08 cents to 73.70 cents U.S.

The largest percentage gainers on the TSX were Aurora Cannabis, which jumped 48 cents, or 2.6%, to $18.88, after a Stifel upgrade and Torex Gold Resources, which rose $1.13, or 6%, to $20.00, after TD Securities started coverage with a "buy" rating and $30 target price.

First Quantum Minerals, which fell by 55 cents, or 5.5%, to $9.45, and Crescent Point Energy, which shed 12 cents, or 5.5%, to $2.27, were the biggest drags on the index.


The TSX Venture Exchange tailed 0.86 points to 585.98.

All but two of the 12 subgroups were still negative near noon, with energy fading 2.9%, consumer discretionary stocks settling 2.1%, and health-care, fell 1.9%.

The gainers were gold, up 0.6%, while materials squeezed into the green 0.01%.


Stocks fell sharply on Wednesday as traders grew worried about the increasing number of newly confirmed coronavirus cases, which raised concern about the economic reopening and recovery.

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