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CANADA STOCKS-TSX gains on energy boost; Great Canadian Gaming surges on buyout deal

Published 2020-11-11, 10:18 a/m
© Reuters.

Nov 11 (Reuters) - Canada's main stock index rose on Wednesday, boosted by energy stocks, as hopes of a working COVID-19 vaccine and a $1.66 billion buyout deal for Great Canadian Gaming lifted sentiment.

* Great Canadian Gaming Corp GC.TO surged 34.9% after the company said Apollo Global Management APO.N would acquire the firm for about C$2.16 billion ($1.66 billion). Pfizer Inc (NYSE:PFE) PFE.N said on Monday its COVID-19 vaccine candidate, developed with BioNTech BNTX.O , showed a 90% success rate in preventing infection during trials. The energy sector .SPTTEN climbed 2% as crude prices jumped about 3% also supported by an industry report showing U.S. crude inventories fell more than expected. O/R

* At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 106.54 points, or 0.64%, at 16,721.91.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures GCc1 fell 1% to $1,857.3 an ounce. GOL/

* Linamar Corp LNR.TO rose 11.5% and was among the top percentage gainers after multiple brokerages turned bullish on auto parts maker's stock.

* On the TSX, 155 issues were higher, while 62 issues declined for a 2.50-to-1 ratio favouring gainers, with 18.63 million shares traded.

* Aurora Cannabis Inc ACB.TO fell 18.1%, the most on the TSX, after brokerage Stifel downgraded the pot producer's stock to "sell" from "hold".

* The most heavily traded shares by volume were Aurora Cannabis, Bombardier Inc BBDb.TO , and B2gold Corp BTO.TO .

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

* Across all Canadian issues there were 17 new 52-week highs and one new low, with total volume of 33.59 million shares.

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