November 13, 2019 / 3:43 PM / a month ago

CANADA STOCKS-TSX edges up on earnings boost, recovery in oil prices

(Reuters) - Canada’s main stock index rose on Wednesday, as upbeat corporate reports and a recovery in oil prices helped offset initial gloom arising from worries over a U.S.-China trade deal.

* At 10:09 a.m. ET (15:09 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 18.68 points, or 0.11%, at 16,928.06.

* The index opened weaker, tracking global stocks, as lack of details on the U.S.-China trade deal in a highly anticipated speech by President Donald Trump made investors wary.

* The largest percentage gainers on the TSX was Home Capital Group, which jumped 11.9% after the mortgage lender’s third-quarter profit beat estimates.

* Capital Group was followed by civil aviation training company Cae Inc, which rose 5.9% after its second-quarter profit and revenue topped expectations.

* Four of the index’s 11 major sectors were up.

* The energy sector was unchanged, giving up early losses, as oil prices recovered after OPEC said it saw no signs of global recession.

* U.S. crude prices were up 0.6% a barrel, while Brent crude added 0.3%.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.5% as gold futures rose 0.7% to $1,462.5 an ounce.

* The financials sector slipped 0.3% while the industrials sector rose 0.1%.

* On the TSX, 115 issues were higher, while 114 issues declined for a 1.01-to-1 ratio favouring gainers, with 30.93 million shares traded.

* A notable decliner was Canada Goose Holdings Inc , down 8% after it said that revenue from its wholesale business in the third quarter would take a hit due to early shipments to department stores.

* The most heavily-traded shares by volume were TC Energy Corp, Encana Corp, and Enbridge Inc.

* The TSX posted 10 new 52-week highs and three new lows.

* Across all Canadian issues, there were 24 new 52-week highs and 11 new lows, with total volume of 22.23 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Vinay Dwivedi)

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