TSX gains on energy boost, vaccine optimism
- Britain became the first to approve the COVID-19 vaccine developed by AstraZeneca and Oxford University.
- The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.9%.
Canada's main stock index rose on Wednesday, supported by energy and material stocks, as Britain's approval of another coronavirus shot lifted sentiment around a vaccine-led global economic recovery.
Britain became the first to approve the COVID-19 vaccine developed by AstraZeneca and Oxford University, helping world stocks edge towards record highs.
The energy sector climbed 1.6% as oil prices gained on the back of a weaker dollar and a decline in US crude inventories.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.9%.
Gold prices held steady on Wednesday.
At 09:43 a.m. ET (14:43 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 56.03 points, or 0.32%, at 17,599.46.
The largest percentage gainers on the TSX were oil producer Whitecap Resources Inc, which jumped 5.3%, and lumber producer Canfor Corp, which rose 4%.
On the TSX, 187 issues were higher, while 31 issues declined for a 6.03-to-1 ratio favouring gainers, with 15.98 million shares traded.
Cybersecurity firm Blackberry Ltd fell 1.8%, the most on the TSX, and the second biggest decliner was e-commerce firm Shopify Inc, down 1.7%.
The most heavily traded shares by volume were Power Corporation of Canada, Bank of Nova Scotia and TC Energy Corp.
The TSX posted nine new 52-week highs and no new low.
Across all Canadian issues there were 70 new 52-week highs and five new lows, with total volume of 29.79 million shares.
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