CANADA STOCKS-TSX hits record high on energy boost; Canada Goose soars

  • 2/4/2021
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(Updates prices to add milestone) Feb 4 (Reuters) - Canada’s main stock index hit a record high on Friday as energy stocks gained on higher oil prices and Canada Goose Holdings surged after better-than-expected quarterly results. * The energy sector climbed 1.2% as U.S. crude prices rose 1.2% and Brent crude gained 0.7% on falling inventories and the OPEC+ decision to stick to its output cuts. * At 14:00 ET (19:00 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 144.27 points, or 0.81%, at 18,060.18. * The world’s largest pot producer, Canopy Growth Corp , launched a new line of cannabis-infused soft chews and drops for dogs, after its partner and lifestyle guru Martha Stewart’s line of pet treats recorded strong sales last week. * The Canadian dollar weakened against its U.S. counterpart on Thursday as the greenback added to recent gains against a basket of major currencies and ahead of Canada’s monthly jobs report on Friday. * The financials sector gained 1.0%. The industrials sector rose 0.4%. * The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures fell 2.5% to $1,786.7 an ounce. * On the TSX, 129 issues were higher, while 87 issues declined for a 1.48-to-1 ratio favouring gainers, with 146.43 million shares traded. * The largest percentage gainer on the TSX was Canada Goose Holdings, which jumped 27.2% after it beat estimates for quarterly revenue and profit, boosted by a surge in online sales and increased demand for its luxury parkas in China. * The second-biggest gainer was MEG Energy Corp, rising 5.6%. * New Gold Inc fell 7.1%, the most on the TSX, after gold prices dropped due to a rising dollar. * The second-biggest decliner was NFI Group Inc, down 4.8%. * The most heavily traded shares by volume were The Supreme Cannabis Co, Suncor Energy and Athabasca Oil Corp. * The TSX posted 12 new 52-week highs and no new lows. * Across all Canadian issues there were 120 new 52-week highs and 6 new lows, with total volume of 311.30 million shares. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Aditya Soni)

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