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TSX ekes out gains amid U.S.-China trade optimism

Published 2019-05-14, 10:11 a/m
© Reuters.  TSX ekes out gains amid U.S.-China trade optimism
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April 14 (Reuters) - Canada's main stock index edged higher on Tuesday, following a three day slump, as upbeat comments from Washington and Beijing calmed nerves over a further escalation in their trade war, which has kept global financial markets on edge.

* At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 19.15 points, or 0.12%, at 16,212.56.

* Gains were, however, kept in check by a 0.4% fall in the materials sector .GSPTTMT , which houses precious metal miners, after gold retreated slightly from a one-month high on Tuesday.

* Investors pulled money from the safe-haven asset as equities breathed a sigh of relief after the United States and China adopted a more optimistic tone on their trade dispute. GOL/

* Seven of the index's 11 major sectors were higher, led by the energy sector .SPTTEN which climbed 0.9%.

* U.S. crude CLc1 prices were up 0.7%, while Brent crude LCOc1 added 1%.

* Oil prices rose after top exporter Saudi Arabia said explosive-laden drones launched by a Yemeni armed movement aligned to Iran had attacked facilities belonging to state oil company Aramco. O/R

* The financials sector .SPTTFS gained 0.2%, while the industrials sector .GSPTTIN rose 0.3%.

* The loonie stuck to a narrow range against its U.S. counterpart. CAD/

* On the TSX, 141 issues were higher, while 93 issues declined for a 1.52-to-1 ratio favouring gainers, with 12.13 million shares traded.

* The largest percentage gainers on the TSX were shares of Hexo Corp HEXO.TO , which jumped 4.9% followed by those of CannTrust Holdings Inc TRST.TO , which rose 4.2% following upbeat results.

* Shopify Inc SHOP.TO fell 3.1%, the most on the TSX, after Morgan Stanley (NYSE:MS) cut its rating on the company to "underweight" from "equal-weight". The second biggest decliner was gold miner Kirkland Lake Gold Ltd KL.TO , down 2.4%.

* The most heavily traded shares by volume were Enbridge Inc ENB.TO , Prometic Life Sciences PLI.TO and Stornoway Diamond Corp SWY.TO .

* The TSX posted four new 52-week highs and one new low.

* Across all Canadian issues there were 11 new 52-week highs and seven new lows, with total volume of 20.12 million shares.

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