Press "Enter" to skip to content

CANADA STOCKS-TSX gains on energy boost, positive China…

Aug 10 – Canada’s main stock index opened higher on Monday, boosted by energy stocks which tracked higher oil prices and an improvement in China’s factory data.

* Data showed factory deflation in the world’s second largest economy eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels.

* The energy sector climbed 1.4% as U.S. crude prices were up 2.1% a barrel, while Brent crude added 1.6%.

* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 93.53 points, or 0.57%, at 16,638.01.

* Painted Pony Energy Ltd jumped 14% after Canadian Natural Resources Ltd said it would buy the company for C$461 million ($344.26 million), including debt.

* Canopy Growth Corp gained about 9% after the pot producer reported a smaller-than-expected quarterly loss on Monday.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.4% as gold futures rose 0.8% to $2,026.2 an ounce.

* On the TSX, 164 issues were higher, while 52 issues declined for a 3.15-to-1 ratio favouring gainers, with 16.09 million shares traded.

* The largest percentage gainer on the TSX was Canopy Growth Co, which jumped 10.9%, after the company posted a smaller quarterly loss.

* Its gains were followed by Silvercorp Metals Inc, which rose 5.8%.

* Kinaxis Inc fell 4.4%, the most on the TSX, while the second biggest decliner was Pason Systems Inc, down 3.2%.

* The most heavily traded shares by volume were Baytex Energy Co, Northern Dynasty Minerals Ltd and Northcliff Resources Ltd.

* The TSX posted five new 52-week highs and one new low.

* Across all Canadian issues there were 47 new 52-week highs and five new lows, with total volume of 42.12 million shares.

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

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *