TSX rises on commodity boost, upbeat factory data

  • The energy sector climbed 1.3% as crude prices climbed on optimism about U.S and European economic recoveries and hopes that OPEC and its allies will keep production curbs in place.
  • The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.1% as gold futures rose 0.4% to $1,721 an ounce.
01 Apr, 2021

Canada's main stock index rose on Thursday as energy and mining sectors gained on firmer oil and gold prices, while strong manufacturing activity data also supported sentiment.

The energy sector climbed 1.3% as crude prices climbed on optimism about U.S and European economic recoveries and hopes that OPEC and its allies will keep production curbs in place.

The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.1% as gold futures rose 0.4% to $1,721 an ounce.

Canadian manufacturing activity grew at its fastest pace on record in March as easing of COVID-19 restrictions helped bolster production and new orders, data showed on Thursday.

At 9:36 a.m. ET (13:36 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 133.29 points, or 0.71%, at 18,833.96.

On the TSX, 177 issues were higher, while 50 issues declined for a 3.54-to-1 ratio favouring gainers, with 11.42 million shares traded.

The largest percentage gainers on the TSX were e-commerce firm Shopify Inc, which jumped 5.9%, and miner Lithium Americas Corp, which rose 4.7%.

Brookfield Property Partners L.P fell 1%, the most on the TSX, after the real estate firm said it would buy the remaining stake it does not already own in its commercial real estate business Brookfield Property Partners for about $6.5 billion.

The second-biggest decliner was Firstservice Corp , down 0.9%.

The most heavily traded shares by volume were Bombardier Inc, Power Corporation of Canada, and Vivo Cannabis Inc.

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

Across all Canadian issues there were 33 new 52-week highs and five new lows, with total volume of 27.09 million shares.

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