TSX rises on mining stocks boost, upbeat economic data

Canada's main stock index rose on Thursday as mining stocks tracked bullion prices higher, while government data showed that domestic wholesale trade most likely rose in May.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.3% as gold futures rose 0.1% to $1,783.8 an ounce.

Canadian wholesale trade most likely rose by 1.1% in May over April led by higher sales in the machinery, equipment and supplies subsector, Statistics Canada said in a flash estimate.

At 9:43 a.m. ET (13:43 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 89.84 points, or 0.45%, at 20,254.23.

Adding to the upbeat mood, Export Development Canada's Trade Confidence Index jumped to its highest level in more than 20 years, underpinned by mounting optimism that a sustained global economic recovery is underway.

The largest percentage gainers on the TSX were alt-energy producer Westport Fuel Systems Inc, which jumped 3.8%, and Magna International Inc, which rose 3.3% after Goldman Sachs upgraded the auto parts maker's stock.

The energy sector slipped 0.1% as US crude prices dipped 0.6% a barrel, while Brent crude lost 0.5%.

The financials sector gained 0.4%. The industrials sector rose 0.6%.

On the TSX, 171 issues were higher, while 54 issues declined for a 3.17-to-1 ratio favouring gainers, with 11.76 million shares traded.

Miner Wesdome Gold Mines Ltd fell 1.9%, the most on the TSX, and the second biggest decliner was lithium miner Lithium Americas Corp, down 1.6%.

The most heavily traded shares by volume were Bombardier Inc, Moneta Porcupine Mines Inc, and Manulife Financial Corp.

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

Across all Canadian issues there were 58 new 52-week highs and 10 new lows, with total volume of 26.00 million shares.