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Markets

TSX edges higher on energy gains

  • The energy sector climbed 0.5%, helped by gains in oil prices.
  • The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures rose 0.2% to $1,777.2 an ounce.
Jun 29 2020

Canada's main stock index gained on Monday as energy stocks were lifted by higher oil prices, but worries over the growing number of deaths due to the coronavirus limited gains.

The death toll from COVID-19 surpassed half a million people on Sunday, according to a Reuters tally, a grim milestone for the global pandemic that seems to be resurgent in some countries even as other regions are still grappling with the first wave.

The energy sector climbed 0.5%, helped by gains in oil prices.

At 9:45 a.m. ET (13:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 12.44 points, or 0.08%, at 15,201.42.

Domestic data showed that producer prices in Canada rose by 1.2% in May from April on higher prices for meat, fish, and dairy products, as well as energy and petroleum products.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures rose 0.2% to $1,777.2 an ounce.

The largest percentage gainers on the TSX were Ballard Power Systems Inc, which jumped 7.1%, and Transcontinental Inc, which rose 2.1%.

On the TSX, 109 issues were higher, while 107 issues declined for a 1.02-to-1 ratio favouring gainers, with 19.50 million shares traded.

Aurora Cannabis Inc fell 3.9%, the most on the TSX, after its co-founder Terry Booth retired from his role as director. The second biggest decliner was Lightspeed POS Inc , down 3.3%.

The most heavily traded shares by volume were Bank of Nova Scotia, Freegold Ventures Limited and Canadian Imperial Bank of Commerce.

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

Across all Canadian issues there were 16 new 52-week highs and four new lows, with total volume of 39.34 million shares.