TSX rises on energy boost; Fortuna Silver Mines plunges

Canada's main stock index rose on Monday, boosted by energy stocks, although gains were limited by a plunge in shares of Fortuna Silver Mines after a C$1 billion ($884.32 million) deal to buy Roxgold Inc.

Canada's Fortuna Silver Mines Inc's shares tumbled 12%, the most on the TSX, while Roxgold jumped nearly 20%.

At 9:54 a.m. ET (1354 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 26.91 points, or 0.14%, at 19,129.24.

Four of the index's 11 major sectors were higher, led by the energy sector, which climbed 0.9%, even as crude prices fell.

The largest percentage gainers on the TSX were First Quantum Minerals Ltd, which jumped 4.5%, and Turquoise Hill Resources, which rose 4%.

The most heavily traded shares by volume were Roxgold, Tetra Bio-Pharma Inc and Uex Corp.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.1% as gold futures fell.

On the TSX, 88 issues were higher, while 139 issues declined for a 1.58-to-1 ratio to the downside, with 23.30 million shares traded.

The TSX posted 14 new 52-week highs and no new low.

Across all Canadian issues there were 78 new 52-week highs and four new lows, with total volume of 57.06 million shares.