TSX rises after two sessions of losses
Reuters
Published Feb 03, 2020 10:24
(Reuters) - Canada's main stock index rose on Monday after two sessions of declines as China's move to infuse liquidity in its economy supported sentiment, but a slip in energy stocks due to lower oil prices capped gains.
* China's central bank lowered reverse repo rates and injected 1.2 trillion yuan of liquidity into the markets in a bid to soften the blow on the economy from a rapidly spreading virus. [CNY/]
* The technology (SPTTTK) and healthcare sectors (GSPTTHC) rallied more than 1% each and led gains among the major Canadian sectors.
* At 09:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 73.29 points, or 0.42%, at 17,391.78.
* Domestic data on Monday showed Canadian manufacturing activity expanded in January for the fifth straight month as a measure of new orders rose and business optimism strengthened, but the pace of growth remained sluggish.
* The energy sector (SPTTEN) dropped 0.3%, as U.S. crude (CLc1) prices were down 1.0% a barrel, while Brent crude (LCOc1) lost 1.7%. [O/R]
* Oil prices fell after the coronavirus outbreak hit fuel demand in China, the world's biggest crude oil importer.
* The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, lost 0.4% as gold futures fell. [GOL/]
* On the TSX, 161 issues were higher, while 67 issues declined for a 2.40-to-1 ratio favoring gainers, with 17.12 million shares traded.
* The largest percentage gainers on the TSX were Lightspeed POS Inc (TO:LSPD), which jumped 2.8% and Open Text Corp (TO:OTEX), which rose 2.9%.
* Semafo Inc (TO:SMF) fell 4.7%, the most on the TSX, while Oceanagold Corp (TO:OGC) was the second biggest decliner, down 4%
* The most heavily traded shares by volume were Aurora Cannabis (TO:ACB), Bombardier (TO:BBDb) and Bank Of Montreal (TO:BMO).
* The TSX posted nine new 52-week highs and three new lows.
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* Across all Canadian issues there were 24 new 52-week highs and 13 new lows, with total volume of 32.44 million shares.
Written By: Reuters
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