TSX rises as producer prices gain in June

Canada's main stock index rose on Monday, helped by material stocks, as data showed producer prices gained 0.4% in June from a month earlier on higher prices for energy and petroleum products.

Energy and petroleum prices jumped 11.7%, largely led by an increase in refined petroleum products, Statistics Canada said in a preliminary flash estimate.

Investors will be watching out for the Bank of Canada latest interest rate decision and its quarterly monetary policy report on Wednesday.

Material stocks, which were among the biggest percentage gainers on the main index, added 1.7% helped by higher gold prices.

Prices of bullion firmed above the key $1,800 an ounce level on Monday, supported by uncertainty over the impact of surging coronavirus cases and a subdued dollar.

At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 57.96 points, or 0.37%, at 15,771.78.

The energy sector dropped 0.4% as US crude prices were down 0.5% a barrel, while Brent crude lost 0.5%.

OceanaGold Corp, fell 4.7%, the most on the TSX, while Seven Generations Energy Ltd dropped 2.2%.

On the TSX, 121 issues were higher, while 93 issues declined for a 1.30-to-1 ratio favouring gainers, with 18.85 million shares traded.

The largest percentage gainers on the TSX were Hudbay Minerals Inc, which jumped 6.5%, and Aphria Inc , which rose 6.2%, after Stifel raised target price to C$8 from C$5.30.

The most heavily traded shares by volume were Toronto-Dominion Bank, B2gold Corp and Cenovus Energy Inc.

The TSX posted 13 new 52-week highs and no new low.

Across all Canadian issues there were 50 new 52-week highs and five new lows, with total volume of 36.57 million shares.