May 22, 2018 / 2:24 PM / 6 months ago

CANADA STOCKS-TSX jumps on strong wholesale trade data, higher oil price

(Reuters) - Canada’s main stock index rose on Tuesday, as financial stocks gained on stronger-than-expected gain in March wholesale trade and energy shares got a boost from rising oil price.

* At 9:37 a.m. ET (13:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 54.43 points, or 0.34 percent, at 16,216.74.

* Eight of the index’s eleven major sectors were higher, getting the biggest boost from the financial sector’s 0.4 percent gain.

* Statistics Canada said Canadian wholesale trade rose 1.1 percent in March, the largest month-on-month rise for five months, aided by strength in the motor vehicle and parts subsector.

* Brent Crude oil price rose towards $80 a barrel, supported by concern that falling Venezuelan crude output and a potential drop in Iranian exports could further tighten global supply. The TSX energy sector climbed 1.0 percent.

* The Canadian dollar edged higher against its U.S. counterpart on higher oil prices and the wholesale trade data

* The materials sector, which includes miners, added 0.5 percent as gold prices edged up on Tuesday from a 2018 low as the U.S. dollar fell from its five-month high.

* On the TSX, 179 issues were higher, while 60 issues declined for a 2.98-to-1 ratio favoring gainers, with 14.32 million shares traded.

* The largest percentage gainers were Aurora Cannabis , which jumped 6.2 percent after it made a strategic investment in CTT Pharmaceutical and Canopy Growth Co. Shares of Canopy Growth rose 4.1 percent.

* Cameco Corp fell 6.8 percent, the most on the TSX.

* The second biggest decliner was e-commerce software maker Shopify Inc, which fell 4.9 percent after Adobe Systems Inc announced it was buying rival Magento Commerce.

* The most heavily traded shares by volume were Aurora Cannabis, Canopy Growth and Bombardier Inc.

* The TSX posted 13 new 52-week highs and no new lows.

* Across all Canadian issues there were 47 new 52-week highs and nine new lows, with total volume of 24.93 million shares.

* U.S. Treasury Secretary Steven Mnuchin said on Monday major issues remained in talks between the United States, Mexico and Canada to renegotiate the NAFTA deal. (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Arun Koyyur)

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