CANADA STOCKS-TSX gains on surprise trade surplus

  • 6/8/2021
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(Adds details on sectors, updates prices) June 8 (Reuters) - Canada’s main stock index gained on Tuesday lifted by data showing a surprise domestic trade surplus in April, although losses in energy and mining stocks capped gains. * The nation unexpectedly posted a trade surplus of C$594 million ($492.13 million) in April, as a shortage of chips slashed imports and exports of motor vehicles and parts, Statistics Canada data indicated. * After rising as much as 0.2% to touch a record high of 20,075.9 at open, the Toronto Stock Exchange’s S&P/TSX composite index was up 16.5 points, or 0.08%, at 20,051.8 by 9:38 a.m. ET (1338 GMT). * The largest percentage gainer on the TSX was cybersecurity firm Blackberry Ltd, which jumped 4%, extending a rally in social-media favorites into a third week along with other “meme stocks”. * Its gains were followed by uranium miner Denison Mines Corp, which rose 2.9%. * The energy sector dropped 0.7% as U.S. crude prices were down 0.3% a barrel, while Brent crude lost 0.5%. * The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.4% as gold futures fell 0.2% to $1,893.1 an ounce. * On the TSX, 118 issues were higher, while 100 issues declined for a 1.18-to-1 ratio favoring gainers, with 20.07 million shares traded. * Oil producer Vermilion Energy Inc fell 3.4%, the most on the TSX, and the second biggest decliner was Crescent Point Energy Corp, down 2.5%. * The most heavily traded shares by volume were Hydro One Ltd, BCE Inc and Blackberry Ltd. * The TSX posted 16 new 52-week highs and no new low. * Across all Canadian issues there were 69 new 52-week highs and 12 new lows, with total volume of 32.64 million shares. Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel Our Standards: The Thomson Reuters Trust Principles.

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