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TSX rises as miners gain on bullion price rise

Published 2020-10-07, 10:29 a/m
© Reuters. The facade of the original Toronto Stock Exchange building is seen in Toronto
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(Reuters) - Canada's main stock index rose on Wednesday, helped by gains in shares of mining stocks as bullion prices rose on fading worries over a halt in U.S. coronavirus stimulus talks.

* The materials sector, which includes precious and base metals miners, and fertilizer companies, added 1% as spot gold rose 0.43% to $1,885.2 per ounce.

* At 9:40 a.m. ET (13:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 128.13 points, or 0.79%, at 16,364.26.

* The energy sector climbed 0.5%, even as U.S. crude prices fell 2.2% a barrel and Brent crude lost 1.9%. [O/R]

* On the TSX, 193 issues were higher, while 27 issues declined for a 7.15-to-1 ratio favouring gainers, with 14.42 million shares traded.

* The largest percentage gainers on the TSX were fuel-cell products developer Ballard Power (TO:BLDP), which jumped 5%, and Canada Goose Holdings Inc (TO:GOOS), which rose 3.9% after multiple brokerages hiked the price target of the stock.

* Packaged meat producer Maple Leaf Food (TO:MFI) fell 2%, the most on the TSX, after BMO cut the stock's price target. The second biggest decliner was OceanaGold Corp (TO:OGC), down 1.5%.

* The most heavily-traded shares by volume were Bank of Nova Scotia (TO:BNS), Toronto-Dominion Bank (TO:TD), and Vivo Cannabis Inc (TO:VIVO).

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

© Reuters. The facade of the original Toronto Stock Exchange building is seen in Toronto

* Across all Canadian issues there were 12 new 52-week highs and two new lows, with a total volume of 24.26 million shares.

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