(Reuters) - Canada's main stock index hit a one-month high on Tuesday, led by gains in financial shares, as positive COVID-19 vaccine developments boosted hopes of a faster economic revival.
* Canadian drug developer Medicago said on Tuesday a combination of its experimental COVID-19 vaccine and GlaxoSmithKline's vaccine booster produced virus-neutralizing antibodies in all healthy volunteers in an early-stage study.
* At 9:48 a.m. ET (1448 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 36.65 points, or 0.22%, at 16,512.51.
* Financials gained 0.8%, the most among the three major sectors trading higher.
* Energy stocks rose 0.6% as crude prices jumped about 1.5% as hopes that a COVID-19 vaccine could be on the horizon outweighed the expected negative impact on fuel demand from new lockdowns to contain the virus. [O/R]
* Limiting market gains, material stocks, which include precious and base metals miners and fertilizer companies, fell 0.5%.
* Endeavour Mining Corp fell 4.07% after the company said it was in talks with fellow West African-focused gold mining company Teranga Gold over a potential merger, as it looks to add heft at a time of soaring gold prices.
* On the TSX, 117 issues were higher, while 100 issues declined for a 1.17-to-1 ratio favouring gainers, with 35.98 million shares traded.
* The largest percentage gainer on the TSX was Sleep Country Canada Holdings, which jumped 13.6%, after reporting improved quarterly sales.
* Aurora Cannabis fell 23.3%, the most on the TSX, while the second biggest decliner was Kinaxis Inc, down 6.7%.
* The TSX posted two new 52-week highs and no new low.
* Across all Canadian issues there were 10 new 52-week highs and three new lows, with total volume of 63.11 million shares.
