November 1, 2018 / 2:13 PM / 13 days ago

CANADA STOCKS-TSX rises as material stocks rally

Nov 1 (Reuters) - Canada’s main stock index rose on Thursday, boosted by gains in shares of metal miners fueled by rally in gold prices.

* Eight of the index’s 11 major sectors were higher, led by the materials sector, which added 1.5 percent, as gold futures rose 1.3 percent to $1,228.5 an ounce.

* Gold rose on Thursday as the dollar retreated and made the metal less expensive for holders of other currencies.

* At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 52.27 points, or 0.35 percent, at 15,079.55.

* Also helping the sentiment was a slew of upbeat earnings reports and deals.

* The largest percentage gainers on the TSX were Hudbay Minerals, which jumped 11.2 percent after reporting quarterly results and announcing deal to buy Mason Resources Corp.

* Mason Resources soared more than 100 percent after the buyout deal.

* Norbord, which rose 9.6 percent, was the second biggest gainer after the wood-based panels maker reported a rise in quarterly sales.

* Canadian Natural Resources Ltd gained 6.9 percent after its quarterly profit more than doubled and beat analysts’ estimates helped by higher production and average realized prices.

* On the TSX, 176 issues were higher, while 66 issues declined for a 2.67-to-1 ratio favouring gainers, with traded volumes touching 29.55 million shares.

* Encana Corp fell 15.6 percent, the most on the TSX, after the company said it would buy Newfield Exploration Co for $5.5 billion.

* The second biggest decliner was Maxar Technologies , down 2.7 percent, after multiple brokerages lower their price target on stock after its results on Wednesday.

* The most heavily traded shares by volume were Aurora Cannabis, Encana Corp and Aphria Inc.

* The TSX posted no new 52-week high and 3 new lows.

* Across all Canadian issues, there were three new 52-week highs and 21 new lows, with total volume touching 41.83 million shares. (Reporting by Amy Caren Daniel in Bengaluru Editing by James Emmanuel)

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