May 19 (Reuters) - Canada’s main stock index hit a one-week high on Tuesday after an extended weekend, as rising oil prices lifted the energy sector, while positive results from an early stage trial of a COVID-19 vaccine added to optimism.
* A gradual reopening of select retailers and auto dealerships in Ontario after two months of lockdown also boosted investor sentiment, with industry groups bracing for a slow return to normal business activity.
* At 9:42 a.m. ET (1342 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 248.05 points, or 1.69%, at 14,886.95.
* The energy sector climbed 6.3% as U.S. crude prices were up 4.2% a barrel, while Brent crude added 0.6%.
* The industrials sector rose 2.4% with airline carrier Air Canada jumping over 10% after the company said it is seeing an improvement in demand for air travel and fewer cancellations.
* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1%.
* On the TSX, 199 issues gained, while 29 issues declined for a 6.86-to-1 ratio favoring gainers, with 43.22 million shares traded.
* The largest percentage gainer on the TSX was Aurora Cannabis Inc, which jumped 55.6% adding to the stock’s Friday gains as the pot company posted better-than-expected quarterly revenue.
* Chorus Aviation Inc followed Aurora, rising 13.8% after brokerage Scotiabank raised its price target on the stock.
* Mining company Silvercorp Metals Inc fell 4.9%, the most on the TSX, followed by Shopify Inc, which lost 3.9%.
* The most heavily traded shares by volume were Zenabis Global Inc, Guyana Goldfields Inc and Cenovus Energy Inc.
* The TSX posted nine new 52-week highs and no new low.
* Across all Canadian issues there were 31 new 52-week highs and four new lows, with total volume of 85.80 million shares. (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)