CANADA STOCKS-TSX rises on energy stocks, retail sales boost

  • 5/21/2021
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May 21 (Reuters) - Canada’s main stock index rose on Friday, drawing support from energy stocks that tracked a rise in crude oil prices as economic reopening raised summer demand hopes, while a rise in retail sales also lifted sentiment. * The energy sector climbed 1.3% as U.S. crude prices rose 2.5%, while Brent crude added 2.0%. * At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 39.06 points, or 0.2%, at 19,582.01. * Retail sales rose 3.6% in March from February to C$57.61 billion ($48.01 billion), largely on higher sales in building material and garden equipment and supplies dealers, as well as clothing and clothing accessories stores, Statistics Canada said. * The Canadian dollar rose against its U.S. counterpart on Friday as investor worries about U.S. inflation receded, with the loonie moving closer to a six-year high notched earlier in the week. * The financials sector gained 0.4%. The industrials sector remain unchanged. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.4% as gold futures fell 0.4% to $1,873.7 an ounce. * On the TSX, 138 issues were higher, while 86 issues declined for a 1.60-to-1 ratio favouring gainers, with 22.16 million shares traded. * The largest percentage gainer on the TSX was Village Farms International, which jumped 6.5% after announcing normal course issuer bid for common shares. * Lightspeed Pos Inc was the second-largest percentage gainer, rising 3.1% after Scotiabank raised target price to $81 from $76. * Canfor Corp fell 2.7%, the most on the TSX. The second-biggest decliner was AcuityAds Holdings Inc, down 2.4%. * The most heavily traded shares by volume were Manulife Financial, Sun Life Financial and Trevali Mining Corp. * The TSX posted 11 new 52-week highs and no new lows. * Across all Canadian issues there were 50 new 52-week highs and 6 new lows, with total volume of 36.84 million shares. (Reporting by Shivani Kumaresan in Bengaluru; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.

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