CANADA STOCKS-TSX rises as materials, energy boost

  • 5/10/2021
  • 00:00
  • 12
  • 0
  • 0
news-picture

May 10 (Reuters) - Canada’s main stock index rose on Monday, as heavyweight energy and material stocks climbed 1% boosted by higher commodity prices. * Gold prices gained as the tepid U.S. jobs number last week cemented expectations that interest rates will remain low for some time, denting the dollar and boosting non-yielding metal’s appeal. * The materials sector, which includes precious and base metals miners and fertilizer companies, added nearly 1%. * The energy sector also rose 1% as oil prices gained after a cyberattack forced the shutdown of major fuel pipelines in the United States and raised concerns about supply disruption, outweighing rising coronavirus cases in Asia. * At 09:38 a.m. ET (1338 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 26.96 points, or 0.14%, at 19,499.7. * On the TSX, 136 issues were higher, while 89 issues declined for a 1.53-to-1 ratio favouring gainers, with 15.89 million shares traded. * The largest percentage gainers on the TSX were Ero Copper Corp, which jumped 3.3%, and Labrador Iron Ore Royalty , which rose 3.3%, after TD Securities raised its target price on the stock to C$48 from C$44. * Village Farms International Inc fell 8.6%, the most on the TSX, after the company posted a quarterly loss of 10 cents per share. * The second biggest decliner was Ballard Power Systems Inc , down 5.5%. * The most heavily traded shares by volume were Nevada Copper Corp, Tetra Bio-Pharma Inc and Zenabis Globol Inc. * The TSX posted 33 new 52-week highs and one new low. * Across all Canadian issues there were 166 new 52-week highs and 14 new lows, with total volume of 45.28 million shares. Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel Our Standards: The Thomson Reuters Trust Principles.

مشاركة :