TSX jumps to record high on energy boost, US stimulus hopes

  • The energy sector climbed 2.3% as US crude prices rose 0.9% a barrel, while Brent crude lost 0.3%.
  • Toronto Stock Exchange's S&P/TSX composite index was up 90.97 points, or 0.49%, at 18,551.18.
Updated 16 Feb, 2021

Canada's main stock index scaled an all-time high on Tuesday as energy stocks rallied on higher oil prices, while hopes of fresh US economic stimulus also aided sentiment.

The energy sector climbed 2.3% as US crude prices rose 0.9% a barrel, while Brent crude lost 0.3%.

At 9:36 a.m. ET (1435 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 90.97 points, or 0.49%, at 18,551.18.

Canadian home sales rose 2.0% in January from December, setting a new record amid strong demand in markets across the country, the Canadian Real Estate Association said.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.3% as gold futures fell 1.9% to $1,787.8 an ounce.

The financials sector gained 0.4%. The industrials sector rose 0.2%.

On the TSX, 137 issues were higher, while 75 issues declined for a 1.83-to-1 ratio favouring gainers, with 25.75 million shares traded.

The largest percentage gainers on the TSX were Aphria Inc , which jumped 10.9%, and Cronos Group Inc, which rose 6.8%.

New Gold fell 3.1%, the most on the TSX, while the second-biggest decliner was Oceanagold Corp, down 2.9%.

The most heavily traded shares by volume were Manulife Financial, up 0.4%; Enbridge Inc, up 0.5%, and Nevada Copper Corp, which was flat.

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

Across all Canadian issues there were 206 new 52-week highs and 10 new lows, with total volume of 69.61 million shares.

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