April 22, 2020 / 2:39 PM / 3 months ago

CANADA STOCKS-TSX climbs as oil bounce lifts energy stocks

April 22 (Reuters) - Energy stocks boosted Canada’s main stock index on Wednesday, as crude prices bounced back from historic lows on the prospect of production cuts aimed at tackling an oil glut.

* The energy sector climbed 4.8% as U.S. crude prices were up 26.4% a barrel, while Brent crude added 12.5%.

* On the economic front, data showed Canada’s annual inflation rate tumbled to a near five-year low of 0.9% in March as the coronavirus crisis and an oil supply war slashed gasoline prices, according to Statistics Canada.

* At 9:51 a.m. ET (1351 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 209.55 points, or 1.5%, at 14,149.61.

* Also helping the main index, the materials sector , which includes precious and base metals miners, added 3.7% as gold futures rose 2.3%.

* On the TSX, 215 issues were higher, while 14 issues declined for a 15.36-to-1 ratio favouring gainers, with 32.38 million shares traded.

* Canada’s Rogers Communications Inc slipped 1.6% after the company pulled its 2020 forecast and reported lower-than-expected quarterly profit due to a drop in ad sales and weaker demand for its wireless services.

* The largest percentage gainers on the TSX were Meg Energy Corp, which jumped 9.9%, and First Quantum Minerals , which rose 9.5%.

* Sleep Country fell 2.1%, the most on the TSX. The second biggest decliner was CAE Inc, down 0.8%.

* The most heavily traded shares by volume were StageZero Life Sciences Inc and Cenovus Energy Corp.

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

* Across all Canadian issues there were 14 new 52-week highs and one new low, with total volume of 72.32 million shares. (Reporting by Medha Singh in Bengaluru; Editing by Amy Caren Daniel)

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