September 12, 2019 / 7:04 PM / 10 days ago

CANADA STOCKS-TSX notches record high amid trade hopes, ECB stimulus

(New throughout)

* TSX up 82.05 points, or 0.49%, to 16,693.19

* Index eclipses April record high of 16,672.71

* Financials rise 0.9%

* First Quantum Minerals Ltd gains nearly 10%

TORONTO, Sept 12 (Reuters) - Canada’s main stock index climbed to a record high on Thursday, led by financial shares, as a thaw in U.S.-China trade tensions and the European Central Bank’s new stimulus measures boosted investor sentiment.

At 2:38 p.m. EST (1838 GMT), the Toronto Stock Exchange’s S&P/TSX composite index rose 82.05 points, or 0.49%, to 16,693.19, eclipsing the previous record high set on April 23 at 16,672.71.

Global shares also rallied, including a 0.6% gain for the S&P 500.

The heavily weighted financials group gained 0.9%, while information technology advanced 1.2% and consumer discretionary was up 0.8%.

The best performing stock on the TSX was copper and gold producer First Quantum Minerals Ltd, which climbed nearly 10%. Copper prices were up 1.3%.

Meanwhile, the shares of Aurora Cannabis Inc dropped more than 8% after the company pushed back its profitability timeline to fiscal 2020.

European Central Bank chief Mario Draghi pledged indefinite stimulus to revive an ailing euro zone economy, while U.S. President Donald Trump on Wednesday welcomed China’s decision to exempt some U.S. anti-cancer drugs and other goods from its tariffs and announced a short delay to scheduled tariff hikes on billions worth of Chinese goods. (Reporting by Fergal Smith; Editing by Richard Chang)

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