TSX buoyed by Aritzia, mining stocks gain
Reuters
Published Oct 16, 2019 10:25
TSX buoyed by Aritzia, mining stocks gain
(Reuters) - Canada's main stock index ticked higher on Wednesday, supported by a jump in shares of fashion retailer Aritzia following higher quarterly revenue and gains in mining stocks.
At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 14.43 points, or 0.09%, at 16,432.82.
Gains in Canadian equities were in contrast to Wall Street's dip after a legislation targeting the Hong Kong protests stoked fears of more friction between United States and China. (N)
Latest economic data showed Canada's annual inflation rate held steady at 1.9% in September, falling short of expectations of a 2.1% rise. It's the last major release of economic data before a national election.
The largest percentage gainers on the TSX were Aritzia Inc (TO:ATZ), which jumped 14.9% after the company reported higher quarterly revenue and Silvercorp Metal (TO:SVM), which rose 4.1%.
The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, added 0.3% as gold futures GCc1 rose 0.3% to $1,481.4 an ounce. [GOL/] [MET/L]
Five of the index's 11 major sectors were higher with the energy sector (SPTTEN) climbing 0.5%, financials sector (SPTTFS) up 0.3%.
U.S. crude (CLc1) prices were down 0.1% a barrel, while Brent crude (LCOc1) lost 0.2%. [O/R]
On the TSX, 132 issues were higher, while 94 issues declined for a 1.40-to-1 ratio favouring gainers, with 10.60 million shares traded.
Aphria Inc (TO:APHA) fell 4.3%, the most on the TSX. The second biggest decliner was Killam Reit Un (TO:KMP_u), down 3.7%.
The most heavily traded shares by volume were Aphria, CannTrust Holdings (TO:TRST) and B2Gold Corp (TO:BTO).
The TSX posted no new 52-week highs and one new low.
Across all Canadian issues there were seven new lows and one new 52-week high, with total volume of 17.92 million shares.
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Written By: Reuters
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