February 12, 2020 / 3:13 PM / 4 days ago

CANADA STOCKS-TSX hits record high on oil rally, Shopify surge

Feb 12 (Reuters) - Canada’s main stock index hit an all-time high on Wednesday, driven by energy stocks as oil prices jumped on optimism over fewer new coronavirus cases, while Shopify shot up 20% on upbeat quarterly earnings.

* At 09:39 a.m. ET (14:39 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 72.71 points, or 0.41%, at 17,849.82.

* The energy sector climbed 2.1% as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world’s second-largest oil consumer may begin to recover.

* Brent crude was up 3.5%, while U.S. West Texas Intermediate (WTI) rose 3%.

* Shopify Inc was the biggest percentage gainer on the TSX after posting better-than-expected quarterly earnings and forecasting full-year revenue above Wall Street estimates.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold futures fell 0.1% to $1,564.2 an ounce.

* On the TSX, 112 issues were higher, while 115 issues declined for a 1.03-to-1 ratio to the downside, with 14.67 million shares traded.

* The second-biggest gainer was West Fraser Timber Co , up 7.4% on production improvement forecast.

* Pretium Resources fell 21.4%, the most on the TSX, after quarterly results. Russel Metals fell 4.4% after reporting a quarterly loss.

* The most heavily traded shares by volume were Bombardier and Cenovus Energy.

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

* Across all Canadian issues there were 97 new 52-week highs and five new lows, with a total volume of 24.90 million shares. (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu Sahu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below