Top News

TSX boosted by better-than-expected GDP data


(Reuters) - Canada's commodity-heavy main stock index rose on Tuesday, tracking a rise in oil and bullion prices and as data showed faster-than-expected annualized GDP growth.

* At 9:45 a.m. ET (14:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 61.85 points, or 0.34%, at 18,361.47.

* Canada's economy grew at an annualized rate of 9.6% in the fourth quarter, beating analyst expectations of 7.5% as a result of a large change in business inventories, Statistics Canada said on Tuesday, while December's real GDP edged up 0.1%.

* Nine of the index's 11 major sectors were higher, led by the healthcare sector.

* The energy sector climbed 1.7% as U.S. crude prices were up 0.4% a barrel, while Brent crude added 0.3% ahead of an OPEC+ meeting this week where producers are expected to ease supply curbs as economies start to slowly recover from the coronavirus crisis.

* The financials sector gained 0.6%, while industrials fell 0.3%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.4% as gold futures rose 0.1% to $1,724.7 an ounce

* On the TSX, 134 issues were higher, while 76 issues declined for a 1.76-to-1 ratio favouring gainers, with 25.43 million shares traded.

* The largest percentage gainers on the TSX were Spin Master Corp, which jumped 24.4% after quarterly earnings report and Aphria Inc, which rose 8.8%.

* Cascades Inc fell 3.5%, the most on the TSX, while the second biggest decliner was Lundin Mining, down 2.3%.

* The most heavily traded shares by volume were Suncor Energy, up 2%; Medipharm Labs, down 20.6%, and Great-West Lifeco, down 0.2%.

* The TSX posted 7 new 52-week highs and no new lows.

* Across all Canadian issues there were 27 new 52-week highs and one new low, with total volume of 55.03 million shares.

(Reporting by Devik Jain in Bengaluru; Editing by Shailesh Kuber)

Did this story inform or enhance your perspective on this subject?
1 being least likely, and 10 being most likely

Recent Stories