TSX gains as oil prices rise after strong China imports data

Canada's main stock index opened higher on Tuesday as oil prices rose following strong China imports data, while consumer prices in the United States spiked, signaling a faster economic growth.

US consumer prices increased by the most in more than 8-1/2 years in March and underlying inflation picked up as more parts of the economy reopened, thanks to increased vaccinations and massive fiscal stimulus.

At 9:36 a.m. ET (1336 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 26.83 points, or 0.14%, at 19,228.11.

Air Canada, struggling with a collapse in traffic due to the COVID-19 pandemic, reached a deal on Monday on a long-awaited aid package with the federal government that would allow it to access up to C$5.9 billion ($4.69 billion) in funds.

The energy sector was up 0.5% as of 9:45 a.m. ET, as both US crude and Brent crude prices rose 1% a barrel.

The financials sector slipped 0.4%. The industrials sector fell 0.5%.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.4% as gold futures rose 0.6% to $1,741.7 an ounce.

On the TSX, 104 issues advanced, while 121 issues declined in a 1.16-to-1 ratio favoring decliners, with 14.91 million shares traded.

The largest percentage gainers on the TSX were Endeavour Silver Corp, which jumped 5.4% and Sunopta Inc , which rose 4.4%.

OrganiGram Holdings fell 6.6%, the most on the TSX, while the second biggest decliner was GFL Environmental , down 5.1%.

The most heavily traded shares by volume were Toronto Dominion Bank, Sabina Gold & Silver Corp and Air Canada.

The TSX posted eight new 52-week highs and no new low.

Canadian issues, there were 69 new 52-week highs and five new lows, with total volume of 26.82 million shares.