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CANADA STOCKS-TSX rises as August factory growth hits 2-year high

Published 2020-09-01, 10:15 a/m
Updated 2020-09-01, 10:18 a/m
© Reuters.

Sept 1 (Reuters) - Canada's main stock index rose on Tuesday as data showed domestic manufacturing activity in August accelerated to its fastest pace in two years, bolstering hopes of a post-coronavirus economic recovery.

* The IHS Markit Canada Manufacturing Purchasing Managers' index (PMI) rose to a seasonally adjusted 55.1 in August, its highest level since the same month two years ago. At 9:53 a.m. ET (1353 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 16.01 points, or 0.1%, at 16,530.45.

* The energy sector .SPTTEN climbed 1% as U.S. crude CLc1 prices were up 1.2% a barrel, while Brent crude LCOc1 added 1.4%. O/R

* The financials sector .SPTTFS slipped 0.4%, while the industrials sector .GSPTTIN fell 0.2%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.2% as gold futures GCc1 rose 0.7% to $1,982.1 an ounce. GOL/

* On the TSX, 96 issues were higher, while 123 issues declined for a 1.28-to-1 ratio to the downside, with 40.07 million shares traded.

* The largest percentage gainers on the TSX was the oil producer Whitecap Resources Inc WCP.TO , which jumped 4.7% after multiple brokerages hiked the price target of the stock.

* Its gains were followed by Crescent Point Energy Corp CPG.TO , which rose 3.5% after the oil producer said it expects to generate nearly $125 million of excess cash flow in the second half of 2020.

* The pot producer Aurora Cannabis Inc ACB.TO fell 4%, the most on the TSX and the second-biggest decliner was Ballard Power Systems Inc BLDP.TO , down 3.1%.

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* The most heavily traded shares by volume were Suncor Energy Inc SU.TO , and Northern Dynasty Minerals Ltd NDM.TO .

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

* Across all Canadian issues there were 28 new 52-week highs and three new lows, with total volume of 52.98 million shares.

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