Stock Market News – CANADA STOCKS-TSX gains on strength in material shares
May 7 (Reuters) – Canada’s main stock index rose on Friday, boosted by material stocks after gold prices gained, although a fall in energy stocks limited gains.
* Gold prices extended gains after breaching the key $1,800 level in the previous session, boosted by a weaker dollar and lower Treasury yields.
* That helped the materials sector, which includes precious and base metals miners, rise nearly 1%.
* At 9:41 a.m. ET (1341 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 74.85 points, or 0.39%, at 19,365.83.
* The energy sector dropped 0.3% as U.S. crude prices were down 0.8% a barrel and Brent crude lost 0.8%.
* Pipeline operator TC Energy fell 0.8% after the company swung to a loss in the first quarter, hit by C$2.2 billion ($1.81 billion) impairment charges related to the suspension of its Keystone XL pipeline project.
* On the economic front, Canada lost more jobs than expected in April as fresh restrictions to contain a variant-driven third wave of COVID-19 weighed on employers, data showed.
* On the TSX, 176 issues were higher, while 47 issues declined for a 3.74-to-1 ratio favouring gainers, with 26.33 million shares traded.
* The largest percentage gainers on the TSX were Tilray Inc , which jumped 12.4%, after Jefferies upgraded the stock and Oceanagold Corp, which rose 6.1%.
* Centerra Gold tumbled 26%, the most on the TSX, after Kyrgyzstan passed law to take control of Kumtor gold mine.
* The second biggest decliner was Aurinia Pharmaceuticals Inc, down 13.8%, after the company posted a loss of 40 cents per share in the first quarter.
* The most heavily traded shares by volume were Enbridge Inc , Zenabis Global Inc and Tetra Bio-Pharma Inc .
* The TSX posted 20 new 52-week highs and two new lows.
* Across all Canadian issues there were 74 new 52-week highs and six new lows, with total volume of 48.07 million shares. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel)