TSX rises on tech gains, US stimulus optimism

Canada's main stock index rose on Thursday as technology stocks gained, while optimism around US fiscal stimulus and economic recovery also lifted sentiment.

At 09:48 a.m. ET (14:48 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 42.1 points, or 0.23%, at 17,958.01.

Technology sector rose 1.4% and was the biggest gainer on the index.

Oil producer EnQuest agreed to buy Suncor's 27% stake in the Golden Eagle fields for $325 million, roughly equivalent to its market capitalization, on the back of a planned debt refinancing and equity raise.

World's largest pot producer, Canopy Growth Corp , launched a new line of cannabis-infused soft chews and drops for dogs, after its partner and lifestyle guru Martha Stewart's line of pet treats recorded strong sales last week.

The energy sector dropped 1.5% even as US crude prices were up 0.4% a barrel, while Brent crude added 0.3%.

The financials sector gained 0.7%, and industrials sector rose 0.1%.

The materials sector, which includes miners of precious and base metals and fertilizer companies, lost 1.7% as gold futures fell 2.2% to $1,791.6 an ounce.

On the TSX, 96 issues advanced, while 117 declined in a 1.22-to-1 ratio favoring losers, with 35.37 million shares traded.

The largest percentage gainer on the TSX was Canada Goose Holdings, which jumped 27.2% after it beat estimates for quarterly revenue and profit, boosted by a surge in online sales and increased demand for its luxury parkas in China.

The second biggest gainer was MEG Energy Corp, rising 4.3%.

First Majestic Silver fell 7.6%, the most on the TSX. The second biggest decliner was New Gold Inc, down 7.1%, after gold and silver prices slipped as the dollar gained.

The most heavily traded shares by volume were The Supreme Cannabis Co, Enbridge Inc and Suncor Energy Inc.

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

Across Canadian issues, there were 43 new 52-week highs and 3 new lows, with total volume of 75.76 million shares.