Canada Stocks: TSX up for third session on gold miners boost, stimulus hopes

Seabridge Gold

17/12/2020 15:07

Dec 17 (Reuters) - Canada's main stock index extended gains
for a third straight session on Thursday, as gold miner stocks
gained, while hopes for fresh stimulus in United States further
lifted sentiment.
    * The materials sector  .GSPTTMT , which includes precious
and base metals miners and fertilizer companies, added 2.7% as
gold futures  GCc1  rose 1.2% to $1,878 an ounce.  GOL/ 
    * The sector's gains were led by the largest percentage
gainers on the TSX, Seabridge Gold Inc  SEA.TO  and MAG Silver
Corp  MAG.TO , which jumped 5.2% and 4.5% respectively.        
    * At 9:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange's
S&P/TSX composite index  .GSPTSE  was up 98.08 points, or 0.56%,
at 17,665.5.
    * The optimism in the Canadian market followed the upbeat
rally across global markets after U.S. congressional leaders
sounded more positive about a $900 billion stimulus package. 
    * Adding to the upbeat mood, the energy sector  .SPTTEN 
climbed 0.1% as U.S. crude  CLc1  prices rose 1.0% a barrel,
while Brent crude  LCOc1  added 0.7%.  O/R 
    * On the TSX, 149 issues advanced, while 66 issues declined
in a 2.26-to-1 ratio favoring gainers, with 16.15 million shares
traded.  
    * Aurinia Pharmaceuticals Inc  AUP.TO  fell 9.7%, the most
on the TSX, after the biotech firm announced a licensing
agreement with Otsuka Pharmaceutical Co Ltd.
    * The second biggest decliner was pot producer Aphria Inc
 APHA.TO , down 5.8%, after brokerage Stifel downgraded it to
"hold" from "buy".
    * The most heavily traded shares by volume were BCE Inc
 BCE.TO , Canadian Imperial Bank of Commerce  CM.TO , and Air
Canada  AC.TO .
    * The TSX posted six new 52-week highs and no new low.
    * Across Canadian issues, there were 74 new 52-week highs
and four new lows, with total volume of 32.55 million shares.
 

 (Reporting by Amal S in Bengaluru;
Editing by Vinay Dwivedi)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))