May 5 (Reuters) - Canada's main stock index rose on Tuesday, in line with Wall Street as oil prices surged and many countries eased coronavirus-related restrictions to boost economic recovery.
Countries including Italy, Spain, India and some U.S. states are temporarily easing stay-at-home orders, raising hopes for an eventual exit from curbs on social and business activity, which could bolster demand for oil. At 09:42 a.m. ET (1342 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 144.12 points, or 0.98%, at 14,889.16.
* However, Canada's trade deficit widened to C$1.41 billion ($1.00 billion) in March as the COVID-19 pandemic and low demand for oil hit the economy, and data showed that April's shortfall would likely be worse. The energy index .SPTTEN climbed 5.2% as U.S. crude CLc1 prices gained 15.1% a barrel, while Brent crude LCOc1 added 9.9%. O/R
* The financials sector .SPTTFS gained 1.2%. The industrials sector .GSPTTIN rose 0.5%.
* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.3% as gold futures GCc1 fell 0.6% to $1,697.2 an ounce. GOL/
* On the TSX, 177 issues were higher, while 50 issues declined for a 3.54-to-1 ratio favouring gainers, with 29.51 million shares traded.
* The largest percentage gainers on the TSX were Westshore Terminals Investment Corp WTE.TO , which jumped 10.1% and Meg Energy Corp MEG.TO , which rose 9.3%.
* Iamgold Corp IMG.TO fell 6.7%, the most on the TSX, after it missed first-quarter revenue estimates and reported quarterly loss of 1 cent per share while analysts were expecting profit of 4 cents.
* The second biggest decliner was Thomson Reuters Corp TRI.TO , down 2.6% after it cut its full-year sales outlook and reported first quarter sales and operating profit slightly below Wall Street expectations. The most heavily traded shares by volume were Bombardier Inc BBDb.TO , up 3.0%; Bank Of Montreal BMO.TO , up 1.4% and Cenovus Energy Inc CVE.TO , up 6.4%.
* The TSX posted three new 52-week highs and no new lows.
* Across all Canadian issues there were eight new 52-week highs and no new lows, with total volume of 51.68 million shares.