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CANADA STOCKS-TSX gains in broad rally due to NAFTA optimism

Published 2018-08-27, 10:12 a/m
© Reuters.  CANADA STOCKS-TSX gains in broad rally due to NAFTA optimism
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(Reuters) - Canada's main stock index advanced on Monday in a broad-based rally on hopes that the trade negotiators of the United States and Mexico would arrive at a common ground on the North American Free Trade Agreement.

* At 9:33 a.m. ET (13:33 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 86.87 points, or 0.53 percent, at 16,442.92.

* Mexican and U.S. officials are close to agreeing they have resolved their bilateral issues in the renegotiation of the North American Free Agreement but a major issue must still be settled, a top Mexican official said on Monday.

* "A big deal looking good with Mexico!", U.S. President Donald Trump tweeted. Separately, a Mexican source familiar with the talks, said it was "almost certain" there would be an announcement on Monday when asked if the two sides had reached an agreement. All 11 major TSX sectors advanced, led by the 0.7 percent gain in the energy sector .SPTTEN sector.

* U.S. crude CLc1 prices were up 0.1 percent a barrel, while Brent crude LCOc1 added 0.3 percent. O/R

* Suncor Energy SU.TO , Canadian Natural Resources CNQ.TO and Cenovus Energy CVE.TO rose about 1 percent and were the biggest boost to the energy group.

* Gains in heavyweight bank stocks led the financials sector .SPTTFS 0.5 percent higher. The industrials sector .GSPTTIN rose 0.5 percent.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.8 percent.

* Gold futures GCc1 were unchanged at $1,206 an ounce, while copper prices CMCU3 advanced 1.4 percent to $6,069 a tonne. GOL/ MET/L

* The largest percentage gainers on the TSX were marijuana producers Aphria Inc APH.TO , which jumped 13.8 percent and Aurora Cannabis ACB.TO , which rose 7.8 percent.

* OceanaGold Corp OGC.TO fell 0.8 percent, the most on the TSX. The second biggest decliner was Pretium Resources PVG.TO , down 0.7 percent.

* On the TSX, 196 issues were higher, while 38 issues declined for a 5.16-to-1 ratio favouring gainers, with 9.08 million shares traded.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Aphria Inc APH.TO and Canopy Growth Co WEED.TO .

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

* Across all Canadian issues, there were 30 new 52-week highs and nine new lows, with total volume of 15.84 million shares.

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