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CANADA STOCKS-TSX rises as energy stocks gain on COVID-19 vaccine progress

Published 2020-11-23, 10:04 a/m
© Reuters.
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Nov 23 (Reuters) - The energy sector drove Canada's main stock index higher on Monday, as more signs of progress in developing a COVID-19 vaccine bolstered hopes of an economic revival and lifted oil prices.

* The energy sector .SPTTEN climbed 2.1% as U.S. crude CLc1 prices were up 1.0% a barrel while Brent crude LCOc1 added 1.4%. O/R

* At 9:34 a.m. ET (14:34 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 40.82 points, or 0.24%, at 17,059.92.

* AstraZeneca AZN.L said its COVID-19 vaccine could be around 90% effective, while a top official of U.S. government's vaccine development effort said the country's health regulator is likely to approve the distribution of Pfizer (NYSE:PFE) PFE.N and BioNTech's 22UAy.DE shot in mid-December. The largest percentage gainers on the TSX were oil producers Enerplus Corp ERF.TO , which jumped 4.3%, and Whitecap Resources Inc WCP.TO , which rose 4.1%.

* Canada's wholesale trade in October likely increased by 0.9%, after rising 0.9% in September, Statscan said in a flash estimate. The financials sector .SPTTFS gained 0.7%. The industrials sector .GSPTTIN rose 0.2%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.8%.

* On the TSX, 143 issues were higher, while 71 issues declined for a 2.01-to-1 ratio favoring gainers, with 19.70 million shares traded.

* Miner Pan American Silver Corp PAAS.TO fell 2.5%, the most on the TSX, and the second-biggest decliner was New Gold Inc NGD.TO , down 2.5%.

* The most heavily traded shares by volume were Manulife Financial Corp MFC.TO , Sun Life Financial Inc SLF.TO , and Bombardier Inc BBDb.TO .

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

* Across all Canadian issues there were 45 new 52-week highs and two new lows, with total volume of 31.80 million shares.

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