December 27, 2018 / 2:47 PM / 3 months ago

TSX surges over 2 percent, snaps four-day losing streak

(Reuters) - Canada’s main stock index surged more than 2 percent on Thursday, on track for its biggest one-day percentage gain in nearly three years, helped by gains across all major sectors.

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. Canada's main stock index was little changed on Monday as weakness in financial and energy shares offset gains in the materials sector. REUTERS/Mark Blinch (CANADA - Tags: BUSINESS)

* At 9:42 a.m. ET (1442 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index .GSPTSE was up 278.75 points, or 2.02 percent, at 14,058.94.

* TSX rose after snapping a four-day losing streak with energy stocks leading gains, indicating that investors were slowly stepping back into the commodity-linked market, as oil is one of Canada’s biggest exports.

* The energy sector .SPTTEN surged 3.9 percent, followed by a 3.6 percent gain in the technology sector .SPTTTK.

* The financials sector .SPTTFS gained 1.8 percent, while the industrials .GSPTTIN rose 2.4 percent.

* The materials sector .GSPTTMT, which includes precious metal miners, added 1.4 percent on rise in gold prices helped by a weaker dollar and a rebound in copper prices. [GOL/] [MET/L]

* On the TSX, 226 issues were higher, while 14 issues declined for a 16.14-to-1 ratio favoring gainers, with traded volume touching 20 million shares.

* Top percentage gainers on the TSX were shares of energy company Encana Corp (ECA.TO), which soared 12 percent, followed by shares of online retailer Shopify Inc (SHOP.TO), which climbed 11 percent.

* Department store retailer, Hudson’s Bay Co (HBC.TO), fell 0.5 percent, the most on the TSX.

* The most heavily traded shares by volume were of Aphria Inc (APHA.TO), Pengrowth Energy Corp (PGF.TO) and Aurora Cannabis Inc (ACB.TO).

* The TSX posted one new 52-week high and four new lows.

* Across all Canadian issues, there were two new 52-week highs and 55 new lows, with total volume touching 37.63 million shares.

Reporting by Shreyashi Sanyal in Bengaluru;p Editing by James Emmanuel

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