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Markets

TSX edges higher on energy boost

  • Toronto Stock Exchange's S&P/TSX composite index was up 3.15 points, or 0.02%, at 19,216.31.
  • The energy sector climbed 0.7% as US crude prices were up 1.7% a barrel, while Brent crude added 1.7%.
04 May 2021

Canada's main stock index rose on Tuesday, helped by energy stocks as crude prices gained on optimism over fuel demand, although data showing the country's C$1.1 billion trade deficit in March capped gains.

At 9:39 a.m. ET (13:39 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 3.15 points, or 0.02%, at 19,216.31.

Oil prices rose after more US states eased lockdowns and the European Union sought to attract travellers.

Canada's trade balance shifted back to a deficit in March following two consecutive months of surplus, as imports jumped significantly while exports edged up slightly, Statistics Canada said.

The energy sector climbed 0.7% as US crude prices were up 1.7% a barrel, while Brent crude added 1.7%.

The financials sector remained unchanged, while the industrials sector fell 0.2%.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.6% as gold futures fell 0.2% to $1,788.2 an ounce.

On the TSX, 92 issues were higher, while 128 issues declined for a 1.39-to-1 ratio to the downside, with 16.17 million shares traded.

The largest percentage gainers on the TSX were Gibson Energy and Colliers International Group Inc, rising 5.3% and 5.0% respectively after strong quarterly results.

Ballard Power Systems Inc fell 16.7%, the most on the TSX, after dull quarterly results.

The second biggest decliner was Bausch Health Co, down 7.6% after reporting a quarterly loss.

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

The TSX posted 15 new 52-week highs and no new lows.

Across all Canadian issues there were 48 new 52-week highs and 7 new lows, with total volume of 39.04 million shares.