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CANADA STOCKS-TSX rises on energy boost

Published 2021-02-02, 10:10 a/m
© Reuters.

Feb 2 (Reuters) - Canada's main stock index rose on Tuesday, supported by higher oil prices, after major crude producers showed they were reining in output roughly in line with their commitments.

* Voluntary cuts of 1 million bpd by OPEC's de facto leader, Saudi Arabia, are set to be implemented from the beginning of February though March. The energy sector .SPTTEN climbed 1.9% as U.S. crude CLc1 prices were up 2.8% a barrel, while Brent crude LCOc1 added 2.7%. O/R

* At 9:41 a.m. ET (14:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 105.92 points, or 0.6%, at 17,798.37.

* Imperial Oil Ltd IMO.TO , one of Canada's biggest crude producers and refiners, on Tuesday swung to a quarterly loss, dented by impairment charges of C$1.17 billion ($913.35 million)related to abandoned assets in Alberta. Hedge funds have raised their bets against Canadian silver-mining stocks, January short-selling data from a market regulator showed, while the miners' shares and silver itself rose sharply due to buying by retail investors. The financials sector .SPTTFS gained 0.9%. The industrials sector .GSPTTIN rose 1.1%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 2.4% as gold futures GCc1 fell 1.2% to $1,837.9 an ounce. GOL/

* On the TSX, 166 issues were higher, while 55 issues declined for a 3.02-to-1 ratio favouring gainers, with 20.12 million shares traded.

* The largest percentage gainers on the TSX were Aphria Inc APHA.TO , which jumped 5.1% and Brp Inc DOO.TO , which rose 4.6%.

* First Majestic Silver Corp FR.TO fell 21.1%, the most on the TSX, as silver prices fell more than 5% after hitting an eight-year high a day earlier. The second biggest decliner was Fortuna Silver Mines Inc FVI.TO , down 13.8%. The most heavily traded shares by volume were Athabasca Oil Corp ATH.TO , Blackberry (TSX:BB) Ltd BB.TO and Suncor Energy Inc SU.TO .

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

* Across all Canadian issues there were 25 new 52-week highs and no new lows, with total volume of 47.66 million shares.

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