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China data helps TSX kick off second quarter on upbeat note

Published 2019-04-01, 10:12 a/m
© Reuters.  China data helps TSX kick off second quarter on upbeat note

April 1 (Reuters) - Canada's main stock index advanced in a broad-based rally on Monday, as a surprise recovery in China's factory activity spurred demand for equities globally.

* At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 77.53 points, or 0.48 percent, at 16,179.62, extending gains from its strongest quarter in nearly ten years.

* Meanwhile, domestic data showed Canada's manufacturing sector expanded in March at the slowest pace in two and a half years as a slowdown in global factory activity led to less new work from abroad. The energy sector's .SPTTEN 1.3 percent was the steepest among 11 major TSX sectors trading higher, as oil prices touched 2019 highs.

* U.S. crude CLc1 prices were up 0.9 percent a barrel, while Brent crude LCOc1 was 1.3 percent higher. O/R

* The financials sector .SPTTFS gained 0.4 percent. The industrials sector .GSPTTIN rose 0.6 percent.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.7 percent as gold futures GCc1 rose 0.2 percent to $1,295.9 an ounce. GOL/ MET/L

* On the TSX, 186 issues were higher, while 48 issues declined for a 3.88-to-1 ratio favouring gainers, with 10.89 million shares traded.

* The largest percentage gainers on the TSX were Lundin Mining Corp LUN.TO and Cenovus Energy Inc CVE.TO , rising 4.4 percent and 3.8 percent, respectively.

* BlackBerry Ltd BB.TO fell 1.5 percent, the most on the TSX, after a 13 percent surge in the previous session following the company's better-than-expected fourth-quarter results.

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* The second-biggest decliner was First Majestic Silver Corp FR.TO , down 1.4 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Stornoway Diamond Corp SWY.TO and Mandalay Resources Corp MND.TO .

* Across all Canadian issues, there were 34 new 52-week highs and three new lows, with total volume of 22.09 million shares.

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