CANADA STOCKS-TSX recovers as materials, energy stocks gain

  • 1/28/2021
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Jan 28 (Reuters) - Canada’s main stock index rose on Thursday, after its worst session in three months, driven by gains in materials and energy stocks. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 3.7% as gold futures rose 0.7% to $1,857.9 an ounce. * The energy sector climbed 2% as U.S. crude prices rose 1%, while Brent crude added 1%. * At 9:37 a.m. ET (1437 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 131.28 points, or 0.75%, at 17,555.71. * The financials sector gained 0.3%. The industrials sector rose 0.9%. * The largest percentage gainer on the TSX was First Majestic Silver Corp, which jumped 29.3% after a media report of the company winning a reprieve on criminal tax fraud charges in a Mexican court hearing. (bloom.bg/3qZX6MF) * Peer Fortuna Silver Mines Inc rose 19.2%. * On the TSX, 181 issues were higher, while 35 issues declined for a 5.17-to-1 ratio favoring gainers, with 20.08 million shares traded. * Blackberry Limited fell 16.6%, the most on the TSX, shedding some of its recent gains. Two online trading platforms restricted trading in shares of the security software maker and other companies that have seen hefty gains this week due to a social media-driven trading frenzy. * The second-biggest decliner was Real Matters Inc , down 13%, after the IT services provider missed estimates for quarterly earnings. * The most heavily traded shares by volume were Blackberry Limited, Northern Dynasty Minerals Ltd, Bank of Montreal . * The TSX posted three new 52-week highs and no new lows. * Across all Canadian issues, there were eight new 52-week highs and two new lows, with a total volume of 43.10 million shares. (Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)

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