for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

CANADA STOCKS-TSX bounces after selloff, but energy stocks extend declines

Oct 29 (Reuters) - Canada’s main stock index rose on Thursday after tumbling in the previous session, led by a bounce in materials and financial stocks, although the energy sector extended its declines on weaker oil prices.

* At 10:55 a.m. ET (1455 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 92.59 points, or 0.59%, at 15,679.16. The index fell 2.7% in the previous session on worries of a second wave of coronavirus infections.

* Nine of the index’s 11 major sectors were higher, led by materials and financials stocks, which gained more than 1% each.

* The energy sector dropped 1.4% as U.S. crude prices were down 3.6% a barrel, while Brent crude lost 3.4%.

* Cenovus Energy Inc reported its third straight quarterly loss, just days after announcing a buyout of rival Husky Energy Inc, as the pandemic-driven oil crash continues to weigh on the oil industry.

* On the TSX, 178 issues were higher, while 43 issues declined for a 4.14-to-1 ratio favouring gainers, with 70.78 million shares traded.

* The largest percentage gainers on the TSX were Alamos Gold Inc, which jumped 11.9% after third-quarter earnings beat estimates, and Teck Resources Ltd, which rose 5%.

* OceanaGold Corp fell 8.1%, the most on the TSX, after reporting a higher quarterly loss.

* The most heavily traded shares by volume were Husky Energy Inc, Cenovus Energy Inc and Suncor Energy Inc .

* The TSX posted one new 52-week high and one new low.

* Across all Canadian issues, there were two new 52-week highs and 15 new lows, with a total volume of 117.34 million shares. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Devika Syamnath)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up