July 17, 2020 / 2:38 PM / 20 days ago

CANADA STOCKS-TSX gains after wholesale trade rises in May

July 17 (Reuters) - Canada’s main stock index rose on Friday, helped by gains in energy and material stocks and data showing upbeat wholesale trade in May as restrictions imposed to fight the coronavirus outbreak were relaxed.

* Canadian wholesale trade rose by 5.7% in May from April, the biggest jump for almost 17 years, Statistics Canada said on Friday.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 62.53 points, or 0.39%, at 16,087.03.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.1% as gold prices rose after surging coronavirus cases fueled demand for safe havens.

* The second biggest percentage gainer on the index was gold producer Oceanagold Corp, up 4.8%.

* The energy sector climbed 0.9% as U.S. crude prices were up 0.1% a barrel, while Brent crude lost 0.2%.

* On the TSX, 161 issues were higher, while 49 issues declined for a 3.29-to-1 ratio favouring gainers, with 8.41 million shares traded.

* The largest percentage gainer on the TSX was Cogeco Communications Inc, which jumped 4.3%, after TD Securities raised its price target on stock.

* Financial services provider Equitable Group Inc fell 2.2%, the most on the TSX, followed by gaming company Boyd Group Services Inc, down 1.3%.

* The most heavily traded shares by volume were Royal Bank Of Canada, Dye&Durham Ltd and Erdene Resource Development Corp.

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

* Across all Canadian issues there were 13 new 52-week highs and one new low, with total volume of 18.03 million shares.

Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel

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