TSX gains on energy boost, recovery hopes
Reuters
Published Jun 02, 2020 07:32
Updated Jun 02, 2020 10:48
(Reuters) - Canada's main stock index rose on Tuesday as energy stocks gained on higher oil prices, with sentiment also supported by hopes for an economic recovery from a coronavirus-fueled slump.
* At 9:40 a.m. ET (13:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 64.89 points, or 0.43%, at 15,301.1.
* The energy sector climbed 2.6% as U.S. crude prices gained 1.2%, while Brent crude added 1.6%. [O/R]
* Oil prices rose to near three-month highs on expectations that major producers would agree to extend output cuts, in a bid to recover crude demand.
* The financials sector gained 1.4%, while the industrials sector fell 0.1%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1.3% as gold futures fell 0.1% to $1,736.4 an ounce. [GOL/]
* On the TSX, 145 issues were higher, while 82 issues declined for a 1.77-to-1 ratio favoring gainers, with 19.73 million shares traded.
* The largest percentage gainer on the TSX was Blackberry Ltd (TO:BB), which jumped 5.7% after the enterprise software and services provider named Thomas Eacobacci as president.
* Its gains were followed by oil producer MEG Energy Corp (TO:MEG), which rose 5.0%.
* WSP Global Inc (TO:WSP) fell 4.3%, the most on the TSX, after the company announced public offering of its common shares worth $437 million.
* The second-biggest decliner was First Majestic Silver Corp (TO:FR), down 2.9%.
* The most heavily traded shares by volume were Royal Nickel Corp (TO:RNX), up 1.9%; Hexo Corp (TO:HEXO), down 1.1%, and Bombardier Inc (TO:BBDb), up 1.1%.
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues there were 16 new 52-week highs and one new low, with total volume of 40.51 million shares.
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Written By: Reuters
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