CANADA STOCKS-TSX gains on commodities boost, upbeat job data

  • 7/9/2021
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(Updates prices, sectors) July 9 (Reuters) - Canada’s main stock index rose on Friday, as energy and mining stocks tracked stronger commodities, while government data showed the nation added more jobs than expected in June. * The energy sector climbed 0.4% as crude prices gained for the second day on a decline in U.S. inventories, while the materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6%. * At 9:34 a.m. ET (13:34 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 74.57 points, or 0.37%, at 20,135.78. * However, the index is set to post a second consecutive week in red as investors remained on the sideline amid concerns that the economic recovery was losing steam. * The nation added more jobs than expected in June, bringing employment within 1.8% of pre-pandemic levels, though all the gains were in part-time work, Statistics Canada data showed. * The financials sector gained 0.5%. The industrials sector rose 0.4%. * On the TSX, 178 issues were higher, while 45 issues declined for a 3.96-to-1 ratio favouring gainers, with 7.35 million shares traded. * The largest percentage gainer on the TSX was food company SunOpta Inc, which jumped 3.1% after brokerage BMO assumed coverage of the stock with “outperform” rating. * Its gains were followed by Richelieu Hardware Ltd , which rose 3.0% after multiple brokerages raised the price target of the stock of the specialty hardware maker. * Real estate investment trust WPT Industrial Real Estate Investment Trust fell 2%, the most on the TSX, and the second biggest decliner was finance firm ECN Capital Corp , down 1%. * The most heavily traded shares by volume were Bank of Nova Scotia, Bombardier Inc, and Harte Gold Corp . * The TSX posted six new 52-week highs and no new lows. * Across all Canadian issues, there were 15 new 52-week highs and three new lows, with total volume of 13.91 million shares. (Reporting by Amal S in Bengaluru; Editing by Shinjini Ganguli) Our Standards: The Thomson Reuters Trust Principles.

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