TSX gains on energy boost, wholesale trade data
- Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment.
- Toronto Stock Exchange's S&P/TSX composite index was up 6.81 points, or 0.04%, at 17,951.69.
Canada's main stock index rose on Tuesday, helped by strength in energy stocks, as data showing growth in domestic wholesale trade in November bolstered sentiment. The energy sector climbed 1.4% as US crude prices were up 0.8% a barrel and Brent crude added 1.8% on the back of optimism that government stimulus will eventually lift global economic growth.
Canadian wholesale trade increased by 0.7% in November from October on higher sales of machinery and equipment, as well as building materials and supplies, Statistics Canada said.
At 9:47 a.m. ET (1447 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 6.81 points, or 0.04%, at 17,951.69.
The largest percentage gainers on the TSX were cybersecurity firm BlackBerry Limited, which jumped 5.5% and oil producer Vermilion Energy Inc, which rose 3.9%.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures rose 0.7% to $1,842.9 an ounce.
On the TSX, 135 issues were higher, while 83 issues declined for a 1.63-to-1 ratio favouring gainers, with 24.30 million shares traded.
Meanwhile, the nation's factory sales decreased by 0.6% in November on lower sales of aerospace products and parts, as well as motor vehicles and parts, Statistics Canada said.
Pot producer Aphria Inc fell 4.4%, the most on the TSX, and the second biggest decliner was its peer Aurora Cannabis Inc, down 3.9%.
The most heavily traded shares by volume were Zenabis Global Inc, Blackberry Limited and Aphria Inc .
The TSX posted two new 52-week highs and no new low.
Across all Canadian issues there were 58 new 52-week highs and two new lows, with total volume of 55.34 million shares.
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