CANADA STOCKS-TSX boosted by energy, gold stocks

  • 6/1/2021
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(Updates prices, adds sector details) June 1 (Reuters) - Canada’s main stock index rose on Tuesday, driven by gains in energy and gold stocks as underlying commodity prices gained, while investors awaited key U.S. economic data due later this week. * The energy sector climbed 3.5% as U.S. crude jumped 3%, while Brent crude added 2.2%. * The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.5% as gold futures rose 0.3% to $1,908.7 an ounce. * At 09:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 237.82 points, or 1.21%, at 19,968.81. * Canada’s economy grew 5.6% on an annualized basis in the first quarter but likely contracted in April for the first time in a year as strict public health measures weighed, Statistics Canada data showed. * Shares of Canopy Growth Corp, rose 0.5% after the company’s chief executive officer reassured investors that the world’s most valuable pot producer was on track to be profitable within a year. * Pembina Pipeline Corp fell 3.7% after saying it would buy rival Inter Pipeline Ltd in an all-stock C$8.3 billion ($6.90 billion) deal to create one of Canada’s top oil and gas transportation companies. * The financials sector gained 0.7%. The industrials sector rose 0.8%. * On the TSX, 208 issues were higher, while 16 issues declined for a 13.00-to-1 ratio favouring gainers, with 23.64 million shares traded. * The largest percentage gainers on the TSX were Westport Fuel Systems, which jumped 8.6%, and Blackberry Ltd , which rose 6.5% on the back of a rally in meme stocks. * Pembina Pipeline fell 3.9%, the most on the TSX. The second biggest decliner was Oceanagold Corp, down 1.2%. * The most heavily traded shares by volume were Cenovus Energy, Blackberry Ltd and Baytex Energy Co . * The TSX posted 17 new 52-week highs and no new lows. * Across all Canadian issues there were 81 new 52-week highs and 12 new lows, with total volume of 41.89 million shares. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Subhranshu Sahu) Our Standards: The Thomson Reuters Trust Principles.

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