Energy stocks push TSX higher
Reuters
Published Oct 18, 2019 10:42
(Reuters) - Canada's main stock index rose slightly on Friday, helped by energy stocks, but China's slowest growth in nearly three decades exacerbated concerns about global growth and capped gains.
At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 30.07 points, or 0.18%, at 16,456.37.
Six of the index's 11 major sectors were up.
The energy sector (SPTTEN) climbed 0.5%, helped by shares of Enerflex Ltd (TO:EFX), which jumped 5.2%.
Oil prices were steady as concerns about slower growth in China were countered by bullish signals from both the Chinese and U.S. refining sectors. [O/R]
U.S. crude (CLc1) prices: WTI crude futures were up 0.7% a barrel, while Brent crude (LCOc1) remained unchanged.
The financials sector (SPTTFS) gained 0.2% while the industrials sector (GSPTTIN) rose 0.3%.
The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, added 0.8%
Gold futures fell 0.2% to $1,489.1 an ounce. [GOL/] [MET/L]
On the TSX, 141 issues were higher, while 86 issues declined for a 1.64-to-1 ratio favoring gainers, with 16.41 million shares traded.
Another large percentage gainer on the TSX was Ballard Power Systems Inc (TO:BLDP), which rose 4.5%.
Gildan Activewear Inc (TO:GIL) fell 26.2%, the most on the TSX, after the company lowered its full-year profit forecast. The second-biggest fall was in Aurora Cannabis (TO:ACB), down 2.5%.
The most heavily traded shares by volume were Aurora Cannabis, Royal Bank of Canada (TO:RY) and Gildan Activewear.
The TSX posted two new 52-week highs and four new low.
Across all Canadian issues there were five new 52-week highs and six new lows, with total volume of 24.81 million shares.
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Written By: Reuters
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