Views Article – Sharenet Wealth

News, North America

TSX rises on commodity-linked boost, upbeat manufacturing data

(Updates prices, adds sector details)

March 1 (Reuters) – Canada’s main stock index rose on Monday as energy and materials stocks tracked gains in commodities, while data showed that the domestic manufacturing activity grew at a faster pace in February than in the prior month.

* The energy sector climbed 2.1%, while the materials sector, which includes precious and base metals miners and fertilizer companies, added 1.7%.

* The IHS Markit Canada Manufacturing Purchasing Managers’ index (PMI) rose to a seasonally adjusted 54.8 in February from 54.4 in January as better news on COVID-19 vaccines underpinned confidence and new orders and employment climbed.

* At 9:42 a.m. ET (14:42 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 210.18 points, or 1.16%, at 18,270.44 and is set to post its best day in a month.

* The largest percentage gainer on the TSX was CAE Inc , which jumped 10.3%, after the civil aviation training company agreed to buy L3Harris Technologies Inc’s military training division for $1.05 billion.

* Its gains were followed by Sprott Inc, which rose 5.8% after the asset management firm announced the renewal of normal course issuer bid.

* The financials sector gained 1%. The industrials sector rose 1.4%.

* On the TSX, 194 issues were higher, while 21 issues declined for a 9.24-to-1 ratio favouring gainers, with 21.58 million shares traded.

* Air cargo service provider Cargojet Inc fell 2.2%, the most on the TSX, after the company reported fourth-quarter results and the second biggest decliner was food products producer Maple Leaf Foods Inc, down 1.3%.

* The most heavily traded shares by volume were ClearStream Energy Services Inc, Nevada Copper Corp, and Zenabis Global Inc.

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

* Across all Canadian issues there were 32 new 52-week highs and one new low, with total volume of 52.84 million shares. (Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber)


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