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TSX higher as energy shares gain on oil bounce

Published 2020-04-02, 10:18 a/m
© Reuters.
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April 2 (Reuters) - Canada's main stock index rose on Thursday, led by energy shares as crude prices soared after U.S. President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end the price war.

* At 9:45 a.m. ET (1345 GMT), the Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE was up 113.92 points, or 0.88%, at 12,990.29.

* Six of the index's 11 major sectors were higher, led by the energy sector .SPTTEN , which climbed 2.9% as crude oil futures jumped 10%. O/R

* Prime Minister Justin Trudeau called on Wednesday for a "Team Canada effort" to beat the coronavirus outbreak, saying Parliament should be brought back so all legislators could approve a massive aid package. The financials sector .SPTTFS gained 1.3%. The industrials sector .GSPTTIN rose 0.1%.

* The materials sector .GSPTTMT , added 2.4% as gold futures rose 1%. GOL/

* On the TSX, 182 issues were higher, while 46 issues declined for a 3.96-to-1 ratio favouring gainers, with 33.87 million shares traded.

* The largest percentage gainers on the TSX were shares of oil and gas companies MEG Energy Corp MEG.TO , which jumped 11.5%, followed by shares in Cenovus Energy CVE.TO , which rose 9.6%.

* Shopify Inc SHOP.TO fell 10%, the most on the TSX, after the e-commerce company withdrew its forecast for 2020 due to uncertainty caused by the coronavirus outbreak. The most heavily traded shares by volume were Cenovus, Aurora Cannabis ACB.TO and Canadian Natural Resources CNQ.TO .

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

* Across all Canadian issues there were five new 52-week highs and four new lows, with total volume of 51.09 million shares.

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