TSX rises on upbeat jobs data, energy stocks' fall caps gains

  • Toronto Stock Exchange's S&P/TSX composite index was up 13 points, or 0.07%, at 19,430.03.
  • Canadian Pacific Railway Ltd rose 3.6% after reiterating its commitment to buy Kansas City Southern and asked the US railroad operator to reject rival Canadian National Railway's takeover offer.
20 May, 2021

Canada's main stock index rose on Thursday, as data showed the country added more jobs in April, but gains were capped by energy stocks tracking a fall in oil prices.

At 09:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 13 points, or 0.07%, at 19,430.03.

Canada added 351,300 jobs in April despite a tightening of COVID-19 restrictions, led by gains in the leisure and hospitality, as well as the trade, transportation and utilities sectors, a report from payroll services provider ADP showed.

Canadian Pacific Railway Ltd rose 3.6% after reiterating its commitment to buy Kansas City Southern and asked the US railroad operator to reject rival Canadian National Railway's takeover offer.

The energy sector dropped 1.0% as US crude prices were down 0.2% a barrel, while Brent crude lost 0.5%.

The financials sector gained 0.1%, while industrials rose 0.6%.

The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures fell 0.4% to $1,874.6 an ounce.

On the TSX, 108 issues advanced, while 107 issues declined in a 1.01-to-1 ratio favouring gainers, with 17.94 million shares traded.

The largest percentage gainers on the TSX were Lightspeed Pos Inc, which jumped 12.1%, and ATS Automation Tooling Systems, which rose 9.4%, after posting strong quarterly revenue.

Teck Resources Ltd fell 3.5%, the most on the TSX, and Turquoise Hill Resources , down 2.4%, was the second biggest decliner.

The most heavily traded shares by volume were Manulife Financial Corp, Sun Life Financial and Triple Flag Precious Metals Corp.

The TSX posted seven new 52-week highs and no new low.

Canadian issues there were 20 new 52-week highs and three new lows, with total volume of 29.53 million shares.

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