Pot stocks lift TSX after OrganiGram's strong results
- Toronto Stock Exchange's S&P/TSX composite index was up 45.28 points, or 0.22%, at 20,278.36.
- The energy sector climbed 0.1% as US crude prices were up 0.2% a barrel, while Brent crude added 0.6%.
Canada's main stock index rose on Tuesday as cannabis producers rallied, driven by upbeat earnings from OrganiGram Holdings, and sent the healthcare index surging nearly 4%.
At 09:46 a.m. ET (13:46 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 45.28 points, or 0.22%, at 20,278.36.
The energy sector climbed 0.1% as US crude prices were up 0.2% a barrel, while Brent crude added 0.6%.
The healthcare sector added 3.8%, on track for its best session in more than a month, as shares in OrganiGram surged 17% after the pot producer reported a jump in quarterly net revenue.
The materials sector, which includes precious and base metals miners and fertilizer companies, rose 1.3% as gold futures advanced 0.2% to $1,809.3 an ounce.
On the TSX, 111 issues were higher, while 110 declined for a 1.01-to-1 ratio favouring gainers, with 15.93 million shares traded.
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After Organigram, the largest percentage gainers on the TSX were cannabis majors Tilray Inc, Cronos Group , Aurora Cannabis and Canopy Growth, which rose between 5.3% and 6.7%.
Badger Infrastructure solutions fell 6%, the most on the TSX, after brokerage BMO cut the stock's price target. The second-biggest decliner was Westport Fuel, which fell 2.6%.
The most heavily traded shares by volume were Toronto Dominion Bank, Nevada Copper and Bombardier .
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The TSX posted no new 52-week highs and no new lows.
Across all Canadian issues, there were 65 new 52-week highs and three new lows, with a total volume of 30.83 million shares.
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