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TSX gains after wholesale trade rises in May

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index rose on Friday, helped by gains in energy and material stocks and data showing upbeat wholesale trade in May as restrictions imposed to fight the coronavirus outbreak were relaxed.

July 17 (Reuters) - Canada's main stock index rose on Friday, helped by gains in energy and material stocks and data showing upbeat wholesale trade in May as restrictions imposed to fight the coronavirus outbreak were relaxed.

* Canadian wholesale trade rose by 5.7% in May from April, the biggest jump for almost 17 years, Statistics Canada said on Friday.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 62.53 points, or 0.39%, at 16,087.03.

* The materials sector .GSPTTMT, which includes precious and base metals miners and fertilizer companies, added 1.1% as gold prices rose after surging coronavirus cases fueled demand for safe havens. GOL/

* The second biggest percentage gainer on the index was gold producer Oceanagold Corp OGC.TO, up 4.8%.

* The energy sector .SPTTEN climbed 0.9% as U.S. crude CLc1 prices were up 0.1% a barrel, while Brent crude LCOc1 lost 0.2%. O/R

* On the TSX, 161 issues were higher, while 49 issues declined for a 3.29-to-1 ratio favouring gainers, with 8.41 million shares traded.

* The largest percentage gainer on the TSX was Cogeco Communications Inc CCA.TO, which jumped 4.3%, after TD Securities raised its price target on stock.

* Financial services provider Equitable Group Inc EQB.TO fell 2.2%, the most on the TSX, followed by gaming company Boyd Group Services Inc BYD.TO, down 1.3%.

* The most heavily traded shares by volume were Royal Bank Of Canada RY.TO, Dye&Durham Ltd DND.TO and Erdene Resource Development Corp ERD.TO.

* The TSX posted six new 52-week highs and no new low.

* Across all Canadian issues there were 13 new 52-week highs and one new low, with total volume of 18.03 million shares.

(Reporting by Shivani Kumaresan in Bengaluru; Editing by Amy Caren Daniel)

((Shivani.Kumaresan@thomsonreuters.com ; +1 646 223 8780))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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