CANADA STOCKS-TSX gains on energy boost, surprise trade surplus

  • 3/5/2021
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(Updates prices, adds sector details) March 5 (Reuters) - Canada’s main stock index rose on Friday as energy stocks climbed on higher crude prices, with sentiment also buoyed by a surprise trade surplus in January. * The energy sector advanced 3.8% as U.S. crude prices rose 2.9% a barrel, while Brent crude added 3.1%. * Canada posted a surprise trade surplus in January, the first since May 2019 and the largest since July 2014, mostly on a sharp increase in exports, Statistics Canada said. * At 9:36 a.m. ET (14:36 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 91.34 points, or 0.5%, at 18,217.06. * Meanwhile, Health Canada will announce the approval of Johnson & Johnson’s single-dose COVID-19 vaccine on Friday, CBC News reported, citing sources. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.5% * The financials sector gained 0.7%, while industrials rose 0.3%. * On the TSX, 158 issues were higher, while 55 issues declined for a 2.87-to-1 ratio favouring gainers, with 19.08 million shares traded. * The largest percentage gainers on the TSX were oil producer Vermilion Energy Inc, up 8.6%, and methanol producer Methanex Corp, which rose 7.2%. * Martinrea International Inc fell 10.2%, the most on the TSX, after the automobile parts producer’s fourth-quarter results, followed by Kinaxis Inc, down 3.5% after multiple brokerages cut their price targets on the IT service provider’s stock. * The most heavily traded shares by volume were Bombardier Inc, BCE Inc and Baytex Energy Corp. * The TSX posted seven new 52-week highs and no new lows. * Across all Canadian issues there were 25 new 52-week highs and five new lows, with total volume of 44.55 million shares. (Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)

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