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CANADA STOCKS-TSX climbs on materials boost, upbeat earnings

Published 2020-11-05, 10:04 a/m
© Reuters.
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Nov 5 (Reuters) - Canada's main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd CTCa.TO and Canada Goose Holdings Inc GOOS.TO .

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, gained 3.9% as gold futures GCc1 jumped 2% as the dollar slipped. GOL/

* At 09:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 270.69 points, or 1.69%, at 16,269.43.

* Luxury parka maker Canada Goose Holdings Inc GOOS.TO , GOOS.N beat estimates for quarterly revenue, while retailer Canadian Tire Corp Ltd CTCa.TO reported better-than-expected quarterly results. The largest percentage gainers on the TSX were Aurora Cannabis Inc ACB.TO , which jumped 11.2%, and Tourmaline Oil Corp TOU.TO , which rose 7.9% after multiple brokerages raised their price targets on the oil producer's stock.

* Aiding the upbeat mood was a 2.1% jump for the energy sector .SPTTEN , even though U.S. crude CLc1 prices were down 0.6% a barrel and Brent crude LCOc1 lost 0.3%. O/R

* The financials sector .SPTTFS gained 0.8%, while industrials .GSPTTIN rose 1.5%.

* On the TSX, 208 issues were higher, while 14 issues declined for a 14.86-to-1 ratio favouring gainers, with 17.72 million shares traded.

* Badger Daylighting Ltd BAD.TO was the biggest decliner on the TSX, falling 4.2% after the construction and engineering services provider missed third-quarter revenue estimates, followed by Stantec Inc STN.TO , down 3%.

* The most heavily traded shares by volume were Enbridge Inc ENB.TO , Bombardier Inc BBDb.TO , and Trevali Mining Corp TV.TO .

* The TSX posted nine new 52-week highs and no new low.

* Across all Canadian issues there were 25 new 52-week highs and one new low, with total volume of 32.41 million shares.

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