US Markets

TSX set to rise for third day on trade deal hopes, strong jobs data

Credit: REUTERS/MARK BLINCH

Canada's main stock index was on course to rise for the third day on Friday on robust domestic jobs data, and as hopes for a partial trade deal between the United States and China also supported the sentiment.

Oct 11 (Reuters) - Canada's main stock index was on course to rise for the third day on Friday on robust domestic jobs data, and as hopes for a partial trade deal between the United States and China also supported the sentiment.

* At 10:04 a.m. ET (14:04 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 74.21 points, or 0.45%, at 16,496.89.

* Second day of Sino-U.S. trade negotiations were set to resume on Friday, a day after President Donald Trump said the negotiations were going well.

* Latest data showed the Canadian economy added 53,700 net jobs in September, much more than expectations of an increase of 10,000.

* Seven of the index's 11 major sectors were higher.

* The energy sector .SPTTEN climbed 1.7% on the back of higher oil prices, lifted by a report of an attack on an Iranian oil tanker.

* U.S. crude CLc1 prices were up 1.1% a barrel and Brent crude LCOc1 added 1.3%. O/R

* Energy stocks also got a boost from shares of Tourmaline Oil Corp TOU.TO, which jumped 13.9% and were the largest percentage gainers on the TSX, after the company announced it would form a infrastructure energy company called Topaz Energy Corp.

* The second biggest gainer was Gran Tierra Energy Inc GTE.TO, which rose 5.4%.

* The financials sector .SPTTFS gained 0.6% and the industrials sector .GSPTTIN 0.5%.

* The materials sector .GSPTTMT, which includes precious and base metals miners, lost 1%, as demand for riskier bets dented demand for gold.

* Gold futures GCc1 fell 0.9% to $1,481.7 an ounce. GOL/MET/L

* On the TSX, 134 issues were higher, while 95 issues declined for a 1.41-to-1 ratio favouring gainers, with 15.18 million shares traded.

* MTY Food Group Inc <MTY.TO> fell 6.7%, the most on the TSX, after the quick-service restaurants operator reported disappointing quarterly profit.

* The second biggest decliner was SSR Mining Inc <SSRM.TO>, down 3.9%.

* The most heavily traded shares by volume were Aurora Cannabis <ACB.TO>, Hexo Corp <HEXO.TO> and The Green Organic Dutchman Holdings <TGOD.TO>.

* The TSX posted three new 52-week highs and three new lows.

* Across all Canadian issues, there were six new 52-week highs and 14 new lows, with total volume of 25.62 million shares.

(Reporting by Medha Singh in Bengaluru; Editing by Shinjini Ganguli)

((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6749 1130; Twitter: https://twitter.com/medhasinghs;))

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

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More