May 8 (Reuters) - Canada’s main stock index rose on Wednesday, after two sessions of declines, as positive earnings and a rebound in energy stocks buoyed sentiment with focus on a crucial round of trade talks between the United States and China.
* Trading has been volatile this week after U.S. President Donald Trump on Sunday threatened to raise tariffs on $200 billion worth of Chinese goods this week, prompting investors to pile into safe-haven assets.
* Despite official announcement on Wednesday saying the United States would raise tariffs, investors remained hopeful about a trade deal, with Vice Premier Liu He set to meet Washington officials this week.
* Lifting the mood was data that showed Canadian housing starts surged nearly 23 percent in April, compared with the previous month, as groundbreaking increased on multiple unit and single detached urban homes.
* At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 47.6 points, or 0.29 percent, at 16,405.35.
* Eight of the 11 major S&P sectors were higher, with the energy sector climbing 1.1 percent as price of oil, one of Canada’s major exports, rose.
* The largest percentage gainer on the TSX was Element Fleet Management Corp, which jumped 15.5 percent after reporting a better-than-expected quarterly profit. Kinross Gold Corp rose 8.4 percent after results.
* Shares of Thomson Reuters Corp rose more than 1 percent after reporting a stronger-than-expected quarterly profit, boosted by demand for information it sells to legal professionals, and reaffirmed its forecast for the rest of this year and 2020.
* Home Capital Group Inc fell 8.2 percent, the most on the TSX, after results. The second biggest decliner was Canfor Corp, down 3.5 percent.
* The most heavily traded shares by volume were Knight Therapeutics Inc, Sherritt International Corp and Kinross Gold.
* The TSX posted three new 52-week highs and five new lows.
* Across all Canadian issues there were 10 new 52-week highs and 11 new lows, with total volume of 34.91 million shares.
* On the TSX, 162 issues were higher, while 75 issues declined for a 2.16-to-1 ratio favouring gainers, with 22.47 million shares traded. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila)
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