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

CANADA STOCKS-TSX gains on upbeat economic growth data

Sept 30 (Reuters) - Canada’s main stock index rose on Wednesday, after government data showed the domestic economy expanded in July, bolstering optimism around a post-coronavirus recovery.

* The Canadian economy clawed back from pandemic lows, though the pace of growth slowed through the summer, data showed on Wednesday. Real GDP rose 3.0% in July, in line with analysts’ expectations, while August GDP is expected to increase by 1.0%.

* At 09:38 a.m. ET (1338 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 47.98 points, or 0.3%, at 16,259.5.

* The energy sector climbed 0.4% as U.S. crude prices were up 0.5% a barrel, while Brent crude lost 0.8%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures fell 0.2% to $1,891 an ounce.

* On the TSX, 148 issues were higher, while 67 issues declined for a 2.21-to-1 ratio favoring gainers, with 13.19 million shares traded.

* The largest percentage gainer on the TSX was Canada Goose Holdings Inc, which jumped 10.4% after Cowen & Co upgraded the apparel maker’s stock to “outperform” from “market perform”.

* Lundin Mining Corp rose 5.8% after multiple brokerages raised price target of the stock.

* OceanaGold Corp fell 11.5%, the most on the TSX, and the second-biggest decliner was Osisko Mining Inc, down 2.5%.

* The most heavily-traded shares by volume were The Bank of Nova Scotia, Canadian Imperial Bank of Commerce , and OceanaGold Corp.

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

* Across all Canadian issues there were 12 new 52-week highs and three new lows, with total volume of 20.33 million shares. (Reporting by Amal S in Bengaluru; Editing by Ramakrishnan M.)

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