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TSX rises on global stimulus measures, lockdown easing

Published 2020-04-27, 10:10 a/m
© Reuters.
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April 27 (Reuters) - Canada's main stock index rose in volatile trading on Monday as global economic stimulus measures and news of some countries easing lockdowns pulled investors back to riskier assets.

A central bank-focused week began with the Bank of Japan expanding monetary stimulus and pledging to buy an unlimited amount of bonds, while the U.S. Federal Reserve and the European Central Bank meet later in the week, with the latter likely to do more bond buying. MKTS/GLOB

Optimism also stemmed from Canada's slowing death toll from the coronavirus. Amid plans to restart economies of Canadian provinces, Prime Minister Justin Trudeau said isolation measures to fight the outbreak should remain for the time being. At 09:53 a.m. ET (13:53 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 59.51 points, or 0.41%, at 14,479.87, after a week of modest gains.

* But capping gains was the energy sector .SPTTEN , down 3.1%, as U.S. crude CLc1 prices fell 27.1% a barrel, while Brent crude LCOc1 lost 8.3%. O/R

* Seven Generations Energy Ltd VII.TO fell 7.5%, the most on the TSX, while the second biggest decliner was Baytex Energy Co BTE.TO , down 6.9%.

* The financials sector .SPTTFS gained 0.8%, while the industrials sector .GSPTTIN rose 1.1%.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.9% as gold futures GCc1 fell 0.2% to $1,719.8 an ounce. GOL/ MET/L

* On the TSX, 150 issues were higher, while 78 issues declined for a 1.92-to-1 ratio favouring gainers, with 39.26 million shares traded.

* The largest percentage gainers on the TSX were MAG Silver Corp MAG.TO , which jumped 13.5%, and Canopy Growth Co WEED.TO , which rose 8.1%.

* The most heavily traded shares by volume were Guyana Goldfields GUY.TO and Aurora Cannabis ACB.TO .

* The TSX posted 7 new 52-week highs and no new lows.

* Across all Canadian issues there were 14 new 52-week highs and 3 new lows, with total volume of 72.10 million shares.

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