Nov 7 (Reuters) - Canada’s main stock index scaled six-week highs on Thursday, led by energy shares, as investor sentiment was boosted by signals that a “phase one” U.S.-China trade deal was close to being finalized.
China’s commerce ministry said the world’s two economic giants were working on a deal that would roll back trade tariffs in different stages.
* At 1002 a.m. ET (15:02 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 80.29 points, or 0.48%, at 16,825.93.
* The energy sector climbed 2.4% to its highest since Oct. 1 as U.S. crude prices were up 1.9% a barrel, while Brent crude added 1.2%.
* The financials sector gained 0.6%. The industrials sector rose 0.7%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.5% as gold futures fell 0.4% to $1,484.4 an ounce.
* On the TSX, 154 issues were higher, while 75 issues declined for a 2.05-to-1 ratio favouring gainers, with 43.13 million shares traded.
* The largest percentage gainers on the TSX were Stantec Inc , which jumped 9.5% after quarterly results beat estimates, and Chemtrade Logis, which rose 7.5% after an upgrade to ‘buy’ from Desjardins.
* Kinross Gold fell 11.2%, the most on the TSX. Semafo lost after the gold miner said five of its buses with a military escort came under fire on the road leading to its Boungou mine in the eastern region of Est in Burkina Faso.
* The most heavily traded shares by volume were Enbridge Inc , up 0.1%; Bombardier B, up 2.9% and Manulife Finl, up 2.9%.
** Insurers Manulife and Sun Life rose after beating analysts’ quarterly profit estimates, driven by strong demand in Asia, especially Hong Kong.
* Pot producer Canopy Growth rose after it teamed with Canadian rapper Drake to launch More Life Growth Co, a fully licensed producer of cannabis, based in the artiste’s hometown, Toronto.
* The TSX posted 16 new 52-week highs and no new lows.
* Across all Canadian issues there were 107 new 52-week highs and 13 new lows, with total volume of 67.44 million shares. (Reporting by Susan Mathew in Bengaluru; Editing by Arun Koyyur)
Our Standards: The Thomson Reuters Trust Principles.