June 22, 2020 / 2:35 PM / 17 days ago

CANADA STOCKS-Gold miners lift TSX higher amid fears of recovery delays

June 22 (Reuters) - Canada’s main stock index edged higher on Monday as precious metal miners gained even though the broader sentiment remained fragile due to fears of a setback to global business activity against the backdrop of rising coronavirus cases.

* The World Health Organization reported a record increase in global cases of virus infections on Sunday, raising concerns about a slower-than-expected economic recovery.

* At 10:17 a.m. ET (14:17 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 38.94 points, or 0.25%, at 15,513.14.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 3.1% as gold futures rose 1% due to a rise in perceived safe-haven demand amid a surge in virus cases.

* The energy sector dropped 0.4% as U.S. crude prices were down 0.2% a barrel, while Brent crude lost 0.1%.

* The financials sector slipped 0.7%. The industrials sector fell 0.7%.

* On the TSX, 82 issues were higher, while 138 issues declined for a 1.68-to-1 ratio to the downside, with 23.72 million shares traded.

* The largest percentage gainers on the TSX was Westshore Terminals Investment Corp, which jumped 8.7% after Scotiabank raised the target price of the stock.

* Its gains were followed by Pan American Silver Corp , which rose 8.3%.

* WPT Industrial Real Estate Investment Trust fell 5.1%, the most on the TSX, followed by second biggest decliner was MEG Energy Corp, down 3.2%.

* The most heavily traded shares by volume were Bombardier Inc, down 1.1% and Kinross Gold Corp, up 6.7%.

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

* Across all Canadian issues there were 22 new 52-week highs and one new low, with total volume of 55.80 million shares. (Reporting by Amal S in Bengaluru; Editing by Arun Koyyur)

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