TSX rises as gold miners track bullion gains
- The materials sector, which includes precious and base metals miners and fertilizer companies, added 2.9% as gold futures rose 1.8% to $1,707.6 an ounce.
- The energy sector dropped 1% as US crude prices were down 0.3% a barrel.
Canada's main stock index rose on Tuesday, led by an over 2% rise in materials stocks, as gold miners tracked an increase in bullion prices, while further gains were capped by weakness in energy stocks.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 2.9% as gold futures rose 1.8% to $1,707.6 an ounce.
At 9:38 a.m. ET (14:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 120.14 points, or 0.65%, at 18,577.92.
The energy sector dropped 1% as US crude prices were down 0.3% a barrel.
The financials sector slipped 0.5%. The industrials sector rose 0.6%.
On the TSX, 167 issues were higher, while 50 issues declined for a 3.34-to-1 ratio favouring gainers, with 25.38 million shares traded.
The largest percentage gainers on the TSX were software firm Lightspeed POS Inc, which jumped 10.4% after BTIG raised its rating of the stock, and Ballard Power Systems Inc , which rose 9.9% after the fuel cell product maker received follow-on orders from Wrightbus for fuel cell modules.
Flight simulator maker CAE Inc fell 6%, the most on the TSX, and the second biggest decliner was Vermilion Energy Inc, down 2.3%.
The most heavily traded shares by volume were Hydro One Ltd, Suncor Energy Inc, and Rogers Communications Inc.
The TSX posted nine new 52-week highs and no new lows.
Across all Canadian issues there were 71 new 52-week highs and four new lows, with total volume of 45.64 million shares.
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