April 28, 2020 / 2:20 PM / 2 months ago

CANADA STOCKS-Easing lockdowns across countries propel TSX to 7-week high

April 28 (Reuters) - Canada’s main stock index rose to a seven-week high on Tuesday, with oil stocks in the lead, on rising optimism over signs of easing lockdowns imposed to contain the coronavirus pandemic.

Several states in the United States allowed businesses to reopen after a near total halt in activity to contain the outbreak, while many other countries such as Italy and Spain plan to reopen economies in the coming weeks.

* At 09:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 167.63 points, or 1.14%, at 14,809.74.

* The energy sector climbed 2.4% as Brent crude added 3.6%.

* The financials sector gained 1.9%, while the industrials sector rose 1.3%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.7% as gold futures rose 0.3% to $1,716.6 an ounce.

* On the TSX, 196 issues were higher, while 33 issues declined for a 5.94-to-1 ratio favouring gainers, with 23.11 million shares traded.

* The largest percentage gainers on the TSX were Lightspeed POS Inc, which jumped 9.1%, and BRP Inc, which rose 8.6%.

* Extendicare Inc fell 4.3%, the most on the TSX.

* The second biggest decliner was Barrick Gold, down 2.1%, after Papua New Guinea threatened to take control of a gold mine operated by Barrick in the country after its local unit suspended operations at the weekend following news the mine’s lease would not be renewed.

* The most heavily traded shares by volume were Royal Bank of Canada, up 1.6%; Bank Of Montreal, up 1.8% and Katanga Mining, which was flat.

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

* Across all Canadian issues there were 8 new 52-week highs and one new low, with total volume of 40.85 million shares.

Reporting by Susan Mathew in Bengaluru; Editing by Shinjini Ganguli

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