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TSX rises as energy stocks gain on COVID-19 vaccine progress

11/23/2020 | 10:04am

Nov 23 (Reuters) - The energy sector drove Canada's main stock index higher on Monday, as more signs of progress in developing a COVID-19 vaccine bolstered hopes of an economic revival and lifted oil prices.

* The energy sector climbed 2.1% as U.S. crude prices were up 1.0% a barrel while Brent crude added 1.4%.

* At 9:34 a.m. ET (14:34 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 40.82 points, or 0.24%, at 17,059.92.

* AstraZeneca said its COVID-19 vaccine could be around 90% effective, while a top official of U.S. government's vaccine development effort said the country's health regulator is likely to approve the distribution of Pfizer and BioNTech's shot in mid-December.

* The largest percentage gainers on the TSX were oil producers Enerplus Corp, which jumped 4.3%, and Whitecap Resources Inc, which rose 4.1%.

* Canada's wholesale trade in October likely increased by 0.9%, after rising 0.9% in September, Statscan said in a flash estimate.

* The financials sector gained 0.7%. The industrials sector rose 0.2%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.8%.

* On the TSX, 143 issues were higher, while 71 issues declined for a 2.01-to-1 ratio favoring gainers, with 19.70 million shares traded.

* Miner Pan American Silver Corp fell 2.5%, the most on the TSX, and the second-biggest decliner was New Gold Inc, down 2.5%.

* The most heavily traded shares by volume were Manulife Financial Corp, Sun Life Financial Inc, and Bombardier Inc.

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

* Across all Canadian issues there were 45 new 52-week highs and two new lows, with total volume of 31.80 million shares. (Reporting by Amal S in Bengaluru; Editing by Aditya Soni)

© Reuters 2021
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