TSX rises on boost from pot producers, materials stocks

Canada's main stock index rose on Monday, buoyed by cannabis and materials stocks, as investors hope for a significant US stimulus package to help spur a faster economic recovery.

Healthcare sector gained 3%, supported by pot producers.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.9% as gold futures rose 1.2% to $1,833.4 an ounce.

At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 126.16 points, or 0.7%, at 18,262.06.

Junior miner Canada Nickel Co Ltd has held talks with US government officials about potentially supplying nickel for electric car batteries, its chief executive said, amid mounting concern in Washington about China's dominance of global supply chains.

The energy sector climbed 1.0% as US crude prices rose 1.0% a barrel, while Brent crude added 1.0%.

The financials sector gained 0.3%. Industrials rose 0.6%.

On the TSX, 175 issues advanced, while 41 issues declined in a 4.27-to-1 ratio favouring gainers, with 21.67 million shares traded.

The largest percentage gainer on the TSX was Westshore Terminals Investment Corp, which jumped 13.2% after BMO and TD Securities raised price targets on the stock.

The second largest percentage gainer was BlackBerry Ltd , rising 7.3%.

Canada Goose Holdings fell 1.2%, the most on the TSX. The second biggest decliner was H&R Real Estate Investment Trust, down 1.1%.

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

The TSX posted 18 new 52-week highs and no new low.

Across Canadian issues, there were 177 new 52-week highs and seven new lows, with total volume of 64.96 million shares.