May 6, 2020 / 3:16 PM / a month ago

CANADA STOCKS-TSX rises on optimism over easing of lockdowns

May 6 (Reuters) - Canada’s main stock index rose on Wednesday on hopes of a pickup in demand as several countries gradually relax lockdown measures, while falling oil prices due to a supply glut kept energy stocks under pressure.

Many states in the United States including California are temporarily easing stay-at-home orders this week, while Germany and Spain are among economies gradually emerging from lockdowns.

* At 10:48 a.m. ET (1448 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 73.93 points, or 0.5%, at 14,885.49.

* Also supporting the move was a gain in technology stocks , which jumped 3% after e-commerce company Shopify Inc posted a surprise adjusted profit for the first quarter as more users visited its platform after lockdowns led merchants to move their businesses online. Shares of the company jumped 6%.

* The energy sector dropped 1.5% as oil prices fell after a report showed a higher-than-expected rise in U.S. inventories.

* U.S. crude prices were down 3.7% a barrel, while Brent crude lost 3.6%.

* On the TSX, 96 issues were higher, while 126 issues declined for a 1.31-to-1 ratio to the downside, with 41.16 million shares traded.

* The largest percentage gainers on the TSX were Real Matters Inc, which jumped 10.2% after posting second-quarter revenue and profit above analysts’ estimates, and Boralex Inc, which rose 6.4% on beating first-quarter revenue and profit estimates.

* Arc Resources Ltd fell 5.3%, the most on the TSX. The second-biggest decliner was Secure Energy Services Inc , down 5.1%.

* The most heavily traded shares by volume were Freegold Ventures Ltd and Bombardier.

* The TSX posted five new 52-week highs and no new low.

* Across all Canadian issues, there were 12 new 52-week highs and two new lows, with total volume of 68.16 million shares. (Reporting by Amal S in Bengaluru; Editing by Maju Samuel)

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