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CANADA STOCKS-TSX gains ahead of BoC governor's speech as Wall Street bounces

Published 2020-09-10, 10:39 a/m
© Reuters.

(Adds details on sectors)

Sept 10 (Reuters) - Canada's main stock index rose on Thursday ahead of a speech by Bank of Canada Governor Tiff Macklem, with wider sentiment also boosted by a rebound in tech-related stocks on Wall Street.

* At 9:47 a.m. ET (1347 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 17.11 points, or 0.1%, at 16,400.71.

* Macklem is set to deliver a speech at 12:30 p.m. ET to discuss the effects of the COVID-19 pandemic on different sectors following Wednesday's policy meet where it kept key interest rate unchanged. The energy sector .SPTTEN dropped 0.2% as U.S. crude CLc1 prices were down 0.3% a barrel, while Brent crude LCOc1 lost 0.2%. O/R

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

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.8% as gold futures GCc1 were up 0.66 % at $1,967.70. GOL/ MET/L

* On the TSX, 118 issues were higher, while 99 issues declined for a 1.19-to-1 ratio favoring gainers, with 15.52 million shares traded.

* The largest percentage gainers on the TSX were Transcontinental Inc TCLa.TO , which jumped 9.0%, and Empire Co EMPa.TO , which rose 3.3%.

* Descartes Systems Group DSG.TO fell 3.8%, the most on the TSX, after announcing plans to lay off 5% of its global workforce, while the second biggest decliner was Enerplus Corp ERF.TO , down 3.2%.

* The most heavily traded shares by volume were Turquoise Hill Resources TRQ.TO , Cenovus Energy CVE.TO and Suncor Energy SU.TO .

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* The TSX posted two new 52-week highs and no new low.

* Across all Canadian issues there were eight new 52-week highs and one new low, with total volume of 31.20 million shares.

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