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TSX hits one-month high on energy boost

Published 2019-11-01, 10:23 a/m
TSX hits one-month high on energy boost
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(Reuters) - Canada's main stock index touched a one-month high on Friday, boosted by energy shares, as upbeat U.S. jobs numbers and strong manufacturing data out of China eased worries of a global economic slowdown.

* All the major sectors were trading higher, led by the energy sector's (SPTTEN) 2.2% climb.

* Crude prices rose over 1% on signs of progress in U.S.-China trade talks and a surprise bounce in Chinese manufacturing activity.

* At 9:40 a.m. ET (1340 GMT), the Toronto Stock Exchange's S&P/TSX Composite index (GSPTSE) was up 94.44 points, or 0.57%, at 16,577.6.

* The main index is also set to post its biggest one-day percentage gain in since early September and its biggest weekly rise in six.

* U.S. job growth slowed less than expected in October, offering some assurance that consumers would continue to support the slowing economy.

* China's factory activity unexpectedly expanded at the fastest pace in well over two years in October as new export orders rose and plants ramped up production, a private business survey showed on Friday.

* The financials sector (SPTTFS) gained 0.4% and the industrials sector (GSPTTIN) rose 0.9%.

* On the TSX, 180 issues were higher, while 46 issues declined for a 3.91-to-1 ratio favouring gainers, with 15.82 million shares traded.

* The largest percentage gainer on the TSX was Kinaxis Inc (TO:KXS), which jumped 13.6%, after the company reported upbeat third-quarter results.

* Sleep Country (TO:ZZZ) fell 12.8%, the most on the TSX, after the company's quarterly earnings missed expectations.

* The most heavily traded shares by volume were Bank Of Montreal (TO:BMO), Encana Corp (TO:ECA) and Bombardier (TO:BBDb).

* The TSX posted nine new 52-week highs and no new low.

* Across all Canadian issues there were 63 new 52-week highs and nine new lows, with total volume of 22.75 million shares.

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