June 16, 2020 / 2:20 PM / 24 days ago

CANADA STOCKS-TSX jumps as energy stocks gain on higher oil prices

June 16 (Reuters) - Canada’s main stock index rose on Tuesday as the energy sector jumped nearly 4% on signs of improving crude oil demand, while sentiment was also bolstered by a record increase in U.S. retail sales and prospects of more economic stimulus.

* U.S. crude prices rose 3.4%, while Brent crude added 3% after the International Energy Agency increased its oil demand forecast for 2020 and as record supply cuts supported the market.

* The U.S. Federal Reserve is set to start purchasing corporate bonds on Tuesday as part of an already announced stimulus scheme, while latest data showed a record jump in U.S. retail sales in May as Americans resumed spending after weeks of lockdowns.

* At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 301.76 points, or 1.96%, at 15,661.42.

* The financials sector gained 2.7%. The industrials sector rose 2.6%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures rose 0.3% to $1,725.8 an ounce.

* On the TSX, 199 issues were higher, while 29 issues declined for a 6.86-to-1 ratio favouring gainers, with 32.56 million shares traded.

* The largest percentage gainer on the TSX was oilfield services and equipment provider Shawcor Ltd, which jumped 11.9%, followed by Pason Systems Inc, which rose 10.6%.

* Silvercorp Metals Inc fell 2.0%, the most on the TSX. The next biggest decliner was Alacer Gold Corp, down 1.7%.

* The most heavily traded shares by volume were Bombardier Inc, up 4.9%, BCE Inc, up 2.7%, and Air Canada, up 5.2%.

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

* Across all Canadian issues, there were 14 new 52-week highs and one new low, with a total volume of 55.84 million shares. (Reporting by Amal S in Bengaluru; Editing by Subhranshu Sahu)

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