(Reuters) - Canada's main stock index rose on Wednesday, boosted by a 3% surge in energy stocks, as sentiment was lifted by reports of drug breakthroughs in treating the fast-spreading coronavirus.
* The energy sector (SPTTEN) was set to post its biggest percentage gain in two months, as oil prices soared on media reports that scientists have developed a drug to treat the disease that has killed 490 people in China. [O/R]
* The largest percentage gainers on the TSX were MEG Energy Corp (TO:MEG), which jumped 7.5% and Cenovus Energy (TO:CVE), which rose 5.6%.
* Also boosting sentiment was data that showed Canada posted a narrower-than-expected trade deficit of C$370 million ($279 million) in December, largely on higher crude exports.
* At 09:41 a.m. ET (14:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index (GSPTSE) was on course for their third straight session of gains up 111.68 points, or 0.64%, at 17,624.41
* The materials sector (GSPTTMT), which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures rose 0.2% to $1,553.7 an ounce. [GOL/] [MET/L]
* On the TSX, 175 issues were higher, while 54 issues declined for a 3.24-to-1 ratio favouring gainers, with 21.07 million shares traded.
* Bombardier (TO:BBDb) fell 5.2% and was the biggest decliner on the TSX, after surging nearly 18% in the previous session on talks to sell business-jet unit to Textron (N:TXT).
* The second biggest decliner was NovaGold Resources (TO:NG), down 1.9%.
* The most heavily traded shares by volume were Bombardier (TO:BBDb) and StageZero Life Sciences (TO:SZLS).
* The TSX posted 19 new 52-week highs and no new low.
* Across all Canadian issues there were 84 new 52-week highs and nine new lows, with total volume of 35.11 million shares.