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TSX rebounds from three-week low as energy, material stocks gain

Published 2019-03-11, 10:30 a/m
© Reuters.  TSX rebounds from three-week low as energy, material stocks gain
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March 11 (Reuters) - Canada's main stock index rebounded from a three-week low on Monday, led by shares of energy and material companies, as global equities stabilized from their worst week this year.

* At 10:10 a.m. ET (14:10 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 0.6 percent at 16,103.93, nearing its best levels since October 2018.

* All of the index's 11 major sectors were higher, led by the energy sector .SPTTEN as oil prices rose.

* The financials sector .SPTTFS gained 0.4 percent, while the industrials sector .GSPTTIN rose 0.7 percent.

* The materials sector .GSPTTMT , which includes precious and base metals, added 0.9 percent.

* Barrick Gold Corp ABX.TO rose 2.8 percent after it ended its bid for its biggest rival Newmont Mining Corp (NYSE:NEM) NEM.N and instead signed an agreement to create a joint venture for Nevada operations. On the TSX, 159 issues were higher, while 74 issues declined for a 2.15-to-1 ratio favouring gainers, with 34.04 million shares traded.

* The largest percentage gainer on the TSX was lumber company Canfor Corp CFP.TO , which jumped 5.1 percent after brokerage BMO upgraded the stock to "outperform." Iamgold Corp IMG.TO was the biggest decliner, as gold prices slipped on Monday after equity markets regained some ground.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Barrick Gold Corp ABX.TO and Argex Titanium Inc RGX.TO .

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

* Across all Canadian issues there were 36 new 52-week highs and three new lows, with total volume of 53.19 million shares.

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