August 20, 2018 / 2:15 PM / 2 months ago

CANADA STOCKS-TSX edges higher as rising metal prices lift materials stocks

Aug 20 (Reuters) - Canada’s main stock index rose on Monday as rising metal prices led to gains in material stocks, with hopes of resolution in the U.S.-China trade dispute boosting the sentiment.

* At 9:34 a.m. ET (13:34 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 16.22 points, or 0.1 percent, at 16,339.93.

* The United States and China will hold lower-level talks on Aug. 22 and 23, according to the Wall Street Journal, just as new U.S. tariffs on $16 billion of Chinese goods take effect, along with retaliatory tariffs from Beijing on an equal amount of U.S. goods.

* 8 of the index’s 11 major sectors were higher, led by the materials sector which rose added 0.6 percent.

* First Quantum Minerals’ 2.4 percent gain and Barrick Gold Corp’s 1.3 percent rise were the biggest boost to the index.

* Gold futures rose 0.8 percent to $1,185.8 an ounce, while copper prices advanced 1.0 percent to $5,983 a tonne.

* The energy sector dropped 0.1 percent as U.S. crude prices were down 0.2 percent a barrel. Brent crude added 0.2 percent.

* Shares of Enbridge and Canadian Natural Resources fell 0.1 percent and were the biggest lags on the energy group.

* The largest percentage gainers on the TSX were Aurora Cannabis, which jumped 5.4 percent and New Gold , which rose 4.6 percent after Cannccord Genuity raised rating to “hold” from “sell”.

* Kinross Gold fell 2.1 percent, the most on the TSX, after RBC cut rating to “sector perform” from “outperform”. The second biggest decliner was Boardwalk REIT, down 0.9 percent.

* The most heavily traded shares by volume were Aurora Cannabis, Coro Mining Corp, and Canopy Growth Co.

* On the TSX, 154 issues were higher, while 68 issues declined for a 2.26-to-1 ratio favouring gainers, with 7.59 million shares traded.

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

* Across all Canadian issues there were 18 new 52-week highs and four new lows, with total volume of 14.87 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)

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