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CANADA STOCKS-TSX gains on strength in material shares

05/07/2021 10:29
CANADA STOCKS-TSX gains on strength in material shares

- Canada's main stock index rose on Friday, boosted by material stocks after gold prices gained, although a fall in energy stocks limited gains.

* Gold prices extended gains after breaching the key $1,800 level in the previous session, boosted by a weaker dollar and lower Treasury yields. GOL/

* That helped the materials sector .GSPTTMT, which includes precious and base metals miners, rise nearly 1%.GOL/

* At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 74.85 points, or 0.39%, at 19,365.83.

* The energy sector .SPTTEN dropped 0.3% as U.S. crude CLc1 prices were down 0.8% a barrel and Brent crude LCOc1 lost 0.8%. O/R

* Pipeline operator TC Energy TRP.TO fell 0.8% after the company swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project. nL4N2MU34Z

* On the economic front, Canada lost more jobs than expected in April as fresh restrictions to contain a variant-driven third wave of COVID-19 weighed on employers, data showed. nL1N2MU0YB

* On the TSX, 176 issues were higher, while 47 issues declined for a 3.74-to-1 ratio favouring gainers, with 26.33 million shares traded.

* The largest percentage gainers on the TSX were Tilray Inc TLRY.TO, which jumped 12.4%, after Jefferies upgraded the stock and Oceanagold Corp OGC.TO, which rose 6.1%.

* Centerra Gold CG.TO tumbled 26%, the most on the TSX, after Kyrgyzstan passed law to take control of Kumtor gold mine. nL4N2MU3CT

* The second biggest decliner was Aurinia Pharmaceuticals Inc AUP.TO, down 13.8%, after the company posted a loss of 40 cents per share in the first quarter. nASA024Q6

* The most heavily traded shares by volume were Enbridge Inc ENB.TO, Zenabis Global Inc ZENA.TO and Tetra Bio-Pharma Inc TBP.TO.

* The TSX posted 20 new 52-week highs and two new lows.

* Across all Canadian issues there were 74 new 52-week highs and six new lows, with total volume of 48.07 million shares.

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel)

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