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TSX soars to new high on energy gains, Northview Apartment rally

Published 2020-02-20, 10:26 a/m
Updated 2020-02-20, 10:49 a/m
© Reuters.  TSX soars to new high on energy gains, Northview Apartment rally

Feb 20 (Reuters) - Canada's main stock index recovered from early losses to hit record highs on Thursday as gains in energy stocks and a surge in Northview Apartment REIT on a $4.8 billion offer, helped overcome rising fears of the global impact from the coronavirus.

* At 10:04 a.m. ET (15:04 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 20.04 points, or 0.11%, at 17,945.4, on course for its fourth-straight session of gains.

* Markets worldwide took a hit after a spike in the number of coronavirus cases outside China. New research suggested the virus was more contagious than previously thought, with South Korea reporting dozens of newly infected cases, while two passengers in a virus-hit cruise ship in Japan died. China, however, reported a dramatic fall in the number of new cases from the epicenter of the outbreak. MKTS/GLOB

* The energy sector .SPTTEN climbed 0.2% as U.S. crude CLc1 prices rose 1.4% a barrel, while Brent crude LCOc1 added 0.7%. O/R

* The largest percentage gainer on the TSX was Northview Apartment REIT NVU_u.TO , which jumped 12.3% after getting a $4.8 billion offer from real estate firms Starlight Group Property Holdings and KingSett Capital Inc.

* The financial sector .SPTTFS gained 0.1%, while the industrials sector .GSPTTIN fell 0.2%.

* On the TSX, 141 issues were higher, while 84 issues declined for a 1.68-to-1 ratio favouring gainers, with 35.05 million shares traded.

* Sienna Senior Living SIA.TO fell 6.3%, the most on the TSX, after reporting fourth quarter results. The second biggest decliner was Ballard Power BLDP.TO , down 5.6%.

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* The most heavily traded shares by volume were Bombardier BBDb.TO , Telus Corp T.TO and Aurora Cannabis ACB.TO .

* The TSX posted 22 new 52-week highs and no new lows.

* Across all Canadian issues there were 84 new 52-week highs and 7 new lows, with total volume of 54.61 million shares.

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