Company News

CANADA STOCKS-TSX climbs on materials boost, upbeat earnings

Nov 5 (Reuters) - Canada’s main stock index rose on Thursday, led by a surge in materials stocks and upbeat earnings from Canada Tire Corp Ltd and Canada Goose Holdings Inc.

* The materials sector, which includes precious and base metals miners and fertilizer companies, gained 3.9% as gold futures jumped 2% as the dollar slipped.

* At 09:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 270.69 points, or 1.69%, at 16,269.43.

* Luxury parka maker Canada Goose Holdings Inc , beat estimates for quarterly revenue, while retailer Canadian Tire Corp Ltd reported better-than-expected quarterly results.

* The largest percentage gainers on the TSX were Aurora Cannabis Inc, which jumped 11.2%, and Tourmaline Oil Corp, which rose 7.9% after multiple brokerages raised their price targets on the oil producer’s stock.

* Aiding the upbeat mood was a 2.1% jump for the energy sector, even though U.S. crude prices were down 0.6% a barrel and Brent crude lost 0.3%.

* The financials sector gained 0.8%, while industrials rose 1.5%.

* On the TSX, 208 issues were higher, while 14 issues declined for a 14.86-to-1 ratio favouring gainers, with 17.72 million shares traded.

* Badger Daylighting Ltd was the biggest decliner on the TSX, falling 4.2% after the construction and engineering services provider missed third-quarter revenue estimates, followed by Stantec Inc, down 3%.

* The most heavily traded shares by volume were Enbridge Inc , Bombardier Inc, and Trevali Mining Corp .

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

* Across all Canadian issues there were 25 new 52-week highs and one new low, with total volume of 32.41 million shares. (Reporting by Amal S in Bengaluru; Editing by Sriraj Kalluvila)