CANADA STOCKS-TSX inches higher as mining gains overcome energy losses

  • 1/18/2021
  • 00:00
  • 17
  • 0
  • 0
news-picture

(Adds details, updates prices) Jan 18 (Reuters) - Canada’s main stock index edged higher on Monday as strength in major miners, on the back of robust metal prices, offset losses in the energy sector, while a U.S. holiday kept trading volumes low. * At 9:46 a.m. ET (14:46 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 18.43 points, or 0.1%, at 17,927.46. * Base metal prices rose after positive GDP data from China pointed to steady demand in one of the world’s largest resource importers. * Canada’s materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6% . * But this optimism did not show in oil markets, with crude prices dropping on fears of a hit to global demand from the coronavirus pandemic. * Canada’s energy sector dropped 1.1%, with TC Energy Corporation leading losses after Reuters reported U.S. President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project operated by the firm. * A survey also showed housing starts fell 12.2% in December, reflecting continued economic pressure from the pandemic. * The financials sector gained 0.2%. The industrials sector rose 0.4%. * On the TSX, 149 issues were higher, while 67 issues declined for a 2.22-to-1 ratio favouring gainers, with 13.74 million shares traded. * The largest percentage gainers on the TSX were Aurinia Pharmaceuticals Inc, which jumped 4.0%, and Real Matters Inc, which rose 3.9%. * TC Energy Corporation was the biggest loser on the TSX. * The most heavily traded shares by volume were Zenabis Global Inc, Score Media and Gaming Inc and Royal Bank of Canada. * The TSX posted 2 new 52-week highs and no new low. * Across all Canadian issues there were 18 new 52-week highs and one new low, with total volume of 41.97 million shares.

مشاركة :