TSX gains on oil boost, COVID-19 vaccine hopes
Reuters
Published Jul 21, 2020 07:39
Updated Jul 21, 2020 10:42
(Reuters) - Canada's main stock index rose on Tuesday, helped by a jump in oil prices and hopes that vaccines against the COVID-19 disease could be ready by the end of the year.
* Early data from trials of three potential coronavirus vaccines released on Monday bolstered confidence that a vaccine can train the immune system to recognize and fight the virus without serious side effects.
* The energy sector climbed 5.5% on Tuesday as U.S. crude prices gained 3.1%, while Brent crude added 2.9%, reaching levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia.
* Canadian retail sales rose a record 18.7% in May as the economy began to reopen from pandemic-led shutdowns, Statistics Canada said.
* At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 94.26 points, or 0.58%, at 16,277.92.
* The financials sector gained 1.1%. The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.2% as gold futures rose 1.2% to $1,838.1 an ounce.
* On the TSX, 146 issues were higher, while 70 issues declined for a 2.09-to-1 ratio favoring gainers, with 26.10 million shares traded.
* The largest percentage gainer on the TSX was Seven Generations Energy Ltd (TO:VII), which jumped 12.7% after brokerage BMO raised its rating on the firm to "outperform" from "market perform."
* Its gains were followed by Vermilion Energy Inc (TO:VET), which rose 8%
* Shopify Inc (TO:SHOP) fell 4.0%, the most on the TSX, while the second-biggest decliner was Interfor Corp (TO:IFP), down 3.1%
* The most heavily traded shares by volume were Crescent Point Energy Corp (TO:CPG), up 7.3%, Cenovus Energy Inc (TO:CVE), up 7.1%, and B2gold Corp (TO:BTO), up 2.8%.
* The TSX posted 23 new 52-week highs and no new lows.
* Across all Canadian issues there were 89 new 52-week highs and five new lows, with total volume of 61.81 million shares.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.