May 2, 2018 / 3:07 PM / 18 days ago

CANADA STOCKS-TSX gains as energy, materials stocks rise

May 2 (Reuters) - Canada’s main index rose on Wednesday, with gains in Suncor Energy shares boosting the energy sector and higher gold prices supporting materials stocks.

* At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange’s S&P/TSX Composite Index rose 30.81 points, or 0.2 percent, to 15,649.74.

* Also helping the main index was a 4.3 percent rise in software company CGI Group, which reported second-quarter revenue above estimates.

* Shares of Suncor Energy gained 0.8 percent, after the second-largest Canadian energy producer posted a quarterly profit that beat analysts’ expectations.

* The materials group rose 0.7 percent as gold prices steadied due to a pause in the dollar’s rise.

* Also helping the sentiment was Bank of Canada Governor Stephen Poloz saying the outlook for the domestic economy is good despite the overhang of high household debt.

* Seven of the 10 main index sectors were higher.

* Among stocks, Loblaw Cos Ltd gained 0.2 percent after the company beat profit estimates, helped by a rise in same-store sales in its food and drug retail businesses.

* U.S. Trade Representative Robert Lighthizer said if a deal to revise the North American Free Trade Agreement cannot be reached with Canada and Mexico in about three weeks, its approval by the U.S. Congress could be in jeopardy.

* The TSX posted five new 52-week highs and three new lows. Across all Canadian issues there were 12 new 52-week highs and 13 new lows.

* The largest percentage gainer on the TSX was Russel Metals , which rose 6.8 percent, after the company reported first-quarter results on Tuesday.

* Maple Leaf Food fell 5.4 percent and was the largest decliner on the index, after the meat packaging company posted a first-quarter profit that missed estimates.

* Among the most active Canadian stocks by volume were Green Organic Dutch Holdings, Bombardier Inc and Tamarack Valley.

* Volume on the TSX index was 18.60 million shares, while the total volume on Wednesday was 35.75 million shares. (Reporting by Amy Caren Daniel in Bengaluru)

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