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Company News

CANADA STOCKS-TSX rises on oil boost, tracks Wall St gains

(Adds trading details)

Sept 22 (Reuters) - Canada’s main stock index rose on Tuesday, tracking tech-driven Wall Street gains, as oil prices rose on analysts’ expectations of renewed COVID-19 curbs having a limited effect on fuel demand.

* At 9:50 a.m. ET (1350 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 77.78 points, or 0.49%, at 16,059.55.

* The energy sector climbed 1.4% as U.S. crude prices were up 1.7% a barrel, while Brent crude added 1.6%.

* Bank of Canada Governor Tiff Macklem is likely signing up for inflation running above target as he seeks an economic recovery that raises prospects for everyone, making Canada’s central bank just as dovish as the U.S. Federal Reserve, say economists.

* Canada’s Inter Pipeline Ltd said on Tuesday it will sell a major portion of its European bulk liquid storage business to Spain-based CLH Group for 420 million pounds ($537.73 million).

* The financials sector gained 0.7%, while the industrials sector rose 0.3%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, remain unchanged as gold futures rose 0.6% to $1,913.1 an ounce.

* On the TSX, 157 issues were higher, while 65 issues declined for a 2.42-to-1 ratio favoring gainers, with 23.06 million shares traded.

* The largest percentage gainers on the TSX were Inter Pipeline, which jumped 4.8%, and Gildan Activewear , which rose 2.5%.

* Ballard Power Systems fell 4.0%, the most on the TSX, while the second biggest decliner was Trillium Therapeutics , down 3.0%.

* The most heavily-traded shares by volume were Canadian Natural Resources, Canadian Imperial Bank of Commerce and Suncor Energy.

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

* Across all Canadian issues there were six new 52-week highs and three new lows, with total volume of 39.95 million shares. (Reporting by Shashank Nayar; Editing by Ramakrishnan M.)

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