TSX rises on energy stocks, retail sales boost

Canada's main stock index rose on Friday, drawing support from energy stocks that tracked a rise in crude oil prices as economic reopening raised summer demand hopes, while a rise in retail sales also lifted sentiment.

The energy sector climbed 1.3% as US crude prices rose 2.5%, while Brent crude added 2.0%.

At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 39.06 points, or 0.2%, at 19,582.01.

Retail sales rose 3.6% in March from February to C$57.61 billion ($48.01 billion), largely on higher sales in building material and garden equipment and supplies dealers, as well as clothing and clothing accessories stores, Statistics Canada said.

The Canadian dollar rose against its US counterpart on Friday as investor worries about US inflation receded, with the loonie moving closer to a six-year high notched earlier in the week.

The financials sector gained 0.4%. The industrials sector remain unchanged.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.4% as gold futures fell 0.4% to $1,873.7 an ounce.

On the TSX, 138 issues were higher, while 86 issues declined for a 1.60-to-1 ratio favouring gainers, with 22.16 million shares traded.

The largest percentage gainer on the TSX was Village Farms International, which jumped 6.5% after announcing normal course issuer bid for common shares.

Lightspeed Pos Inc was the second-largest percentage gainer, rising 3.1% after Scotiabank raised target price to $81 from $76.

Canfor Corp fell 2.7%, the most on the TSX. The second-biggest decliner was AcuityAds Holdings Inc, down 2.4%.

The most heavily traded shares by volume were Manulife Financial, Sun Life Financial and Trevali Mining Corp.

The TSX posted 11 new 52-week highs and no new lows.

Across all Canadian issues there were 50 new 52-week highs and 6 new lows, with total volume of 36.84 million shares.