Canada Stocks: TSX rises, set for best weekly performance since Feb 2021

Copper Mountain Mining

22/07/2022 15:44

(Updates to open)
    July 22 (Reuters) - Canada's main stock index edged higher
on Friday and was on pace for its best weekly performance since
early February 2021, lifted by gains in miners and upbeat retail
sales data for May.
    At 10:22 a.m. ET (14:22 GMT), the Toronto Stock Exchange's
S&P/TSX composite index  .GSPTSE  was up 41.07 points, or 0.22%,
at 19,103.92.
    Data showed Canadian retail sales rose 2.2% in May from
April to C$62.25 billion ($48.26 billion), on higher sales at
gasoline stations, as well as motor vehicle and parts dealers.
 urn:newsml:reuters.com:*:nSCLMIEI3H
    Equities have made a comeback this week as traders pare bets
of a 100-basis-point interest rate hike by the U.S. Federal
Reserve next week, easing fears around aggressive monetary
policy tightening.
    The TSX was set to end the week with a rise of 3.8%, which
would be its biggest in more than a year.
    The materials sector  .GSPTTMT , which includes precious and
base metals miners and fertilizer companies, added 1.3% as gold
futures  GCc1  rose 1.3% to $1,735 an ounce, while copper prices
 CMCU3  tracked their first weekly rise in seven weeks.  GOL/ 
 MET/L 
    The energy sector  .SPTTEN  climbed 0.4% and the financials
sector  .SPTTFS  gained 0.1%, while the industrials sector
 .GSPTTIN  rose 0.3%.  O/R 

    
    HIGHLIGHTS
    On the TSX, 161 issues were higher, while 73 issues declined
for a 2.21-to-1 ratio favoring gainers, with 34.76 million
shares traded.
    The top percentage gainers on the TSX were First Majestic
Silver  FR.TO , and Wesdome Gold Mines  WDO.TO , which rose 4.6%
each.
    Shopify Inc  SHOP.TO  fell 4.6%, the most on the TSX,
followed by pot producer Aurora Cannabis  ACB.TO , down 4.1%.
    The TSX posted 3 new 52-week highs and no new lows.
    Across all Canadian issues there were 4 new 52-week highs
and 7 new lows, with total volume of 63.63 million shares.

 (Reporting by Anisha Sircar and Devik Jain in Bengaluru;
Editing by Aditya Soni)
 ((Anisha.Sircar@thomsonreuters.com;))