TSX rises on boost from energy stocks
- The energy sector rose 2.6% as US crude prices were up 2.6% a barrel, while Brent crude added 2.0%.
- Oil prices rose on Tuesday as tension simmered following Iran's seizure of a South Korean vessel.
Canada's main stock index rose on Tuesday, helped by energy stocks tracking a rise in oil prices, while fresh coronavirus-led lockdowns in Europe worried investors about its economic impact.
The energy sector rose 2.6% as US crude prices were up 2.6% a barrel, while Brent crude added 2.0%.
Oil prices rose on Tuesday as tension simmered following Iran's seizure of a South Korean vessel and as the OPEC+ group of producers were divided over February output levels.
At 9:35 a.m. ET (14:35 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 41.58 points, or 0.24%, at 17,569.35.
The financials sector gained 0.4%. The industrials sector rose 0.2%.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.9% as gold futures rose 0.2% to $1,949.4 an ounce.
On the TSX, 116 issues were higher, while 98 issues declined for a 1.18-to-1 ratio favouring gainers, with 19.18 million shares traded.
The largest percentage gainers on the TSX were Crescent Point Energy, which jumped 4.6%, and Vermilion Energy , which rose 4.8%.
Silvercorp Metals fell 5.2%, the most on the TSX. The second biggest decliner was SilverCrest Metals, down 3.7%.
The most heavily traded shares by volume were Toronto-Dominion Bank, SOPerior Fertilizer Corp and Power Corporation of Canada.
The TSX posted six new 52-week highs and no new lows.
Across all Canadian issues there were 24 new 52-week highs and one new low, with total volume of 37.40 million shares.
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