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CANADA STOCKS-TSX gains on energy boost

Published 2020-10-06, 10:08 a/m
Updated 2020-10-06, 10:12 a/m
© Reuters.

Oct 6 (Reuters) - Canada's main stock index rose on Tuesday, lifted by energy stocks as oil prices soared on supply disruptions in Norway, a new hurricane in the Gulf of Mexico and U.S. President Donald Trump's return to the White House from hospital.

* The energy sector .SPTTEN climbed 2.3% as U.S. crude CLc1 prices climbed 3.5% a barrel, while Brent crude LCOc1 added 3.2%. O/R

* At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 11.59 points, or 0.07%, at 16,421.78.

* The country's trade deficit in August narrowed slightly to C$2.45 billion ($1.85 billion) as exports and imports stabilized after two months of strong growth, Statistics Canada said. The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures GCc1 rose 0.2% to $1,916.2 an ounce. GOL/

* On the TSX, 99 issues were higher, while 115 issues declined for a 1.16-to-1 ratio to the downside, with 16.06 million shares traded.

* The largest percentage gainer on the TSX was Vermilion Energy Inc VET.TO , which jumped 6% after brokerage Canaccord Genuity upgraded the oil producer to "speculative buy" from "hold".

* New Gold Inc NGD.TO followed, advancing 5.8%.

* Cascades Inc CAS.TO fell 7.1%, the most on the TSX, after the paper and packaging company announced plans to proceed with the Bear Island mill conversion project. The second biggest decliner was electric utility Brookfield Renewable Partners L.P BEP_u.TO , down 3.9%.

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* The most heavily traded shares by volume were Bank of Nova Scotia BNS.TO , Toronto-Dominion Bank TD.TO and Suncor Energy Inc SU.TO .

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

* Across all Canadian issues, there were 17 new 52-week highs and one new low, with total volume of 27.12 million shares.

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