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TSX rises as gold prices hit record peak

Published 2020-07-27, 07:36 a/m
© Reuters. A man walks past an old Toronto Stock Exchange sign in Toronto
GSPTSE
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(Reuters) - Canada's main stock index rose on Monday, boosted by gold miners after prices of the yellow metal hit a record peak on worsening ties between China and the United States.

* Gold jumped 1.6% to surpass its 2011 highs as bullion prices also benefited from a weaker U.S. dollar and ultra-low interest rates.

* The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, soared 3.6%.

* At 9:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was up 33.9 points, or 0.21%, at 16,030.96.

* The largest percentage gainers on the TSX were Endeavour Mining Corp (TO:EDV), which jumped 8.3%, and First Majestic Silver Corp (TO:FR), which rose 8%.

* The energy sector (SPTTEN) dropped 1% as U.S. crude (CLc1) prices were down 0.5% a barrel, while Brent crude (LCOc1) lost 0.6%.

* The financials sector (SPTTFS) slipped 1.2%. The industrials sector (GSPTTIN) rose 0.1%.

* On the TSX, 93 issues were higher, while 123 issues declined for a 1.32-to-1 ratio to the downside, with 17.43 million shares traded.

* Laurentian Bank of Canada (TO:LB) fell 3.2%, the most on the TSX, and the second-biggest decliner was CompX International Inc (TO:CIX), down 2.7%.

* The most heavily traded shares by volume were Royal Bank of Canada (TO:RY), down 0.8%, and Les Resources Yorbeau Inc (TO:YRB), up 15.4%.

* The TSX posted 22 new 52-week highs and one new low.

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

* Across all Canadian issues there were 84 new 52-week highs and four new lows, with total volume of 46.31 million shares.

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