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CANADA STOCKS-TSX gains on energy boost, surprise trade surplus

Published 2021-03-05, 10:04 a/m
© Reuters.

(Updates prices, adds sector details)

March 5 (Reuters) - Canada's main stock index rose on Friday as energy stocks climbed on higher crude prices, with sentiment also buoyed by a surprise trade surplus in January.

* The energy sector .SPTTEN advanced 3.8% as U.S. crude CLc1 prices rose 2.9% a barrel, while Brent crude LCOc1 added 3.1%. O/R

* Canada posted a surprise trade surplus in January, the first since May 2019 and the largest since July 2014, mostly on a sharp increase in exports, Statistics Canada said. At 9:36 a.m. ET (14:36 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 91.34 points, or 0.5%, at 18,217.06.

* Meanwhile, Health Canada will announce the approval of Johnson & Johnson (NYSE:JNJ)'s JNJ.N single-dose COVID-19 vaccine on Friday, CBC News reported, citing sources. The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.5%

* The financials sector .SPTTFS gained 0.7%, while industrials .GSPTTIN rose 0.3%.

* On the TSX, 158 issues were higher, while 55 issues declined for a 2.87-to-1 ratio favouring gainers, with 19.08 million shares traded.

* The largest percentage gainers on the TSX were oil producer Vermilion Energy Inc VET.TO , up 8.6%, and methanol producer Methanex Corp MX.TO , which rose 7.2%.

* Martinrea International Inc MRE.TO fell 10.2%, the most on the TSX, after the automobile parts producer's fourth-quarter results, followed by Kinaxis Inc KXS.TO , down 3.5% after multiple brokerages cut their price targets on the IT service provider's stock.

* The most heavily traded shares by volume were Bombardier Inc BBDb.TO , BCE Inc BCE.TO and Baytex Energy Corp BTE.TO .

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

* Across all Canadian issues there were 25 new 52-week highs and five new lows, with total volume of 44.55 million shares.

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