April 9, 2020 / 2:41 PM / 2 months ago

CANADA STOCKS-TSX jumps after massive U.S. Fed stimulus

April 9 (Reuters) - Canada’s main stock index rose on Thursday as the U.S. Federal Reserve’s massive program to shore up the world’s largest economy overshadowed record domestic job losses in March.

* Canada lost a 1 million jobs in March, while the unemployment rate soared to 7.8%, official data showed, as the new coronavirus outbreak forced the closure of non-essential businesses.

* However, bolstering investor sentiment was a broad, $2.3 trillion effort by the U.S. Federal Reserve to bolster local governments and small and mid-sized businesses in its latest move to keep the U.S. economy intact.

* All the major TSX sectors were higher, with materials leading gains with a 3.1% rise.

* The sector, which mostly comprises of precious metal miners, was helped by gold futures, which rose 3.1% to $1,716.3 an ounce.

* At 9:45 a.m. ET (13:45 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 338.34 points, or 2.43%, at 14,264.05.

* The index is set to wrap up the holiday-shortened week with its biggest percentage gain since 2009.

* The energy sector climbed 3% as oil prices jumped on hopes that the world’s leading crude producers would soon agree to cut output in response to a collapse in global demand.

* U.S. crude prices were up 6.6% a barrel, while Brent crude added 4.3%.

* On the TSX, 221 issues were higher, while 9 issues declined for a 24.56-to-1 ratio favouring gainers, with 35.98 million shares traded.

* The largest percentage gainers on the TSX were Air Canada , which jumped 14.9%, and Bausch Health Co, which rose 15%.

* Maple Leaf Foods Inc and Empire Company Ltd both fell nearly 1%, the most on the TSX.

* The most heavily traded shares by volume were Bombardier , Air Canada and MEG Energy Corp.

* The TSX posted three new 52-week highs and no new low.

* Across all Canadian issues there were eight new 52-week highs and three new lows, with total volume of 60.67 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Amy Caren Daniel)

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