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CANADA STOCKS-TSX inches higher as mining gains overcome energy losses

Published 2021-01-18, 09:58 a/m
Updated 2021-01-18, 10:00 a/m
© Reuters.

(Adds details, updates prices)

Jan 18 (Reuters) - Canada's main stock index edged higher on Monday as strength in major miners, on the back of robust metal prices, offset losses in the energy sector, while a U.S. holiday kept trading volumes low.

* At 9:46 a.m. ET (14:46 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 18.43 points, or 0.1%, at 17,927.46.

* Base metal prices rose after positive GDP data from China pointed to steady demand in one of the world's largest resource importers. MET/L

* Canada's materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.6% . GOL/ MET/L

* But this optimism did not show in oil markets, with crude prices dropping on fears of a hit to global demand from the coronavirus pandemic. O/R

* Canada's energy sector .SPTTEN dropped 1.1%, with TC Energy Corporation TRP.TO leading losses after Reuters reported U.S. President-elect Joe Biden is planning to cancel the permit for the $9 billion Keystone XL pipeline project operated by the firm. A survey also showed housing starts fell 12.2% in December, reflecting continued economic pressure from the pandemic. The financials sector .SPTTFS gained 0.2%. The industrials sector .GSPTTIN rose 0.4%.

* On the TSX, 149 issues were higher, while 67 issues declined for a 2.22-to-1 ratio favouring gainers, with 13.74 million shares traded.

* The largest percentage gainers on the TSX were Aurinia Pharmaceuticals Inc AUP.TO , which jumped 4.0%, and Real Matters Inc REAL.TO , which rose 3.9%.

* TC Energy Corporation TRP.TO was the biggest loser on the TSX.

* The most heavily traded shares by volume were Zenabis Global Inc ZENA.TO , Score Media and Gaming Inc SCR.TO and Royal Bank of Canada RY.TO .

* The TSX posted 2 new 52-week highs and no new low.

* Across all Canadian issues there were 18 new 52-week highs and one new low, with total volume of 41.97 million shares.

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