TSX gains on oil prices rise, easing lockdowns
Reuters
Published Apr 29, 2020 07:38
Updated Apr 29, 2020 10:36
(Reuters) - Canada's main stock index rose to a seven-weeks high on Wednesday, buoyed by a rise in oil prices and easing of coronavirus-driven lockdowns in some countries.
Oil prices jumped on the news of a smaller-than-expected rise in U.S. stockpiles.
* At 09:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 258.49 points, or 1.75%, at 15,056.78.
* U.S. crude inventories rose by 10 million barrels to 510 million barrels in the week to April 24, data from industry group the American Petroleum Institute showed on Tuesday, compared with analysts' expectations for a build of 10.6 million barrels.
* The energy sector (SPTTEN) climbed 6.3% as U.S. crude (CLc1) prices were up 27.2% a barrel, while Brent crude (LCOc1) added 12.8%. [O/R]
* The financials sector (SPTTFS) gained 2.4%. The industrials sector (GSPTTIN) rose 1.8%.
* The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, lost 0.3% as gold futures GCc1 fell 0.1% to $1,708.5 an ounce. [GOL/]
* On the TSX, 203 issues were higher, while 28 issues declined for a 7.25-to-1 ratio favouring gainers, with 39.94 million shares traded.
* The largest percentage gainers on the TSX were Celestica Inc (TO:CLS), which jumped 15.4% after it reported Q1 revenue and profit above Wall Street expectations and Norbord Inc (TO:OSB), which rose 13.3%.
* Kinross Gold Corp (TO:K) fell 3.2%, the most on the TSX, The second biggest decliner was Metro Inc (TO:MRU), down 2.8%.
* The most heavily traded shares by volume were Bombardier Inc (TO:BBDb), up 3.5%; Athabasca Oil Corp (TO:ATH), up 9.1% and Baytex Energy Corp (TO:BTE), up 9.3%.
* The TSX posted 3 new 52-week highs and no new lows.
* Across all Canadian issues there were 11 new 52-week highs and two new lows, with total volume of 68.03 million shares.
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Written By: Reuters
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