June 8, 2020 / 2:28 PM / a month ago

CANADA STOCKS-TSX gains on energy boost

June 8 (Reuters) - Canada’s main stock index rose on Monday, lifted by energy stocks as major oil producers including OPEC and its allies agreed to extend output cuts till the end of July.

* Although oil prices retreated from earlier gains, energy companies gained on the prospect of higher prices as OPEC+ on Saturday agreed to extend the deal to withdraw almost 10% of global supplies from the market by a third month.

* Energy stocks climbed 1.3% and were among the top percentage gainers among major Canadian sectors.

* The largest percentage gainers on the TSX were oilfield services and equipment provider Shawcor Ltd, which jumped 21.7%, and Baytex Energy Corp, which rose 13.1%.

* At 9:45 a.m. ET (13:45 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 99.63 points, or 0.63%, at 15,953.7.

* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6%.

* Mining company B2Gold Corp dropped 2.9%, the most on the TSX, followed by Kirkland Lake Gold Ltd’s 2.7% fall.

* However, gold prices rose on Monday, helped by technical buying after the previous session’s steep fall.

* On the TSX, 175 issues were higher, while 51 issues declined for a 3.43-to-1 ratio favoring gainers, with 40.98 million shares traded.

* The most heavily traded shares by volume were Baytex Energy Corp, Bombardier Inc and Athene Holding Ltd.

* The TSX posted one new 52-week high and no new low.

* Across all Canadian issues there were 13 new 52-week highs and five new lows, with total volume of 72.12 million shares. (Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel)

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