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TSX hits record high as U.S. house passes USMCA deal

Published 2019-12-20, 10:55 a/m
© Reuters. A man walks past an old Toronto Stock Exchange sign in Toronto

(Reuters) - Canada's main stock index hit a record high on Friday after the U.S. House of Representatives approved a new North American trade deal, also supported by gains in BlackBerry shares after its upbeat quarterly results.

* At 09:45 a.m. ET (14:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 56.25 points, or 0.33%, at 17,120.29.

* The U.S. House of Representatives overwhelmingly approved a new North American trade deal on Thursday that includes tougher labor and automotive content rules but leaves $1.2 trillion in annual U.S.-Mexico-Canada trade flows largely unchanged.

* The largest percentage gainer on the TSX was BlackBerry Ltd, which jumped 10.4% as its revenue and profit beat estimates, boosted by demand in its patent licensing and cybersecurity businesses.

* Its shares helped the technology sector gain 0.7%, the most among 10 of the index's 11 major sectors that rose.

* The energy sector climbed 0.2% while the heavyweight financials sector gained 0.4%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1%. [GOL/] [MET/L]

* On the TSX, 137 issues were higher, while 84 issues declined for a 1.63-to-1 ratio favoring gainers, with 74.67 million shares traded.

* Bombardier Inc (TO:BBDb) fell 3.3%, the most on the TSX. The second-biggest decliner was Alacer Gold Corp (TO:ASR), down 2.7%.

* The most heavily traded shares by volume were Bombardier, Enbridge Inc (TO:ENB) and Manulife Financial Corp (TO:MFC).

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

© Reuters. A man walks past an old Toronto Stock Exchange sign in Toronto

* Across all Canadian issues there were 111 new 52-week highs and seven new lows, with total volume of 88.60 million shares.

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