TSX gains on upbeat manufacturing data
- At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 86.47 points, or 0.54pc, at 16,207.85.
Canada's main stock index rose on Thursday as data showed domestic manufacturing activity expanded in September at its fastest pace in more than two years, bolstering optimism around a post-coronavirus economic recovery.
The IHS Markit Canada Manufacturing Purchasing Managers' index (PMI) rose to a seasonally adjusted 56.0 in September, its highest level since August 2018.
At 9:35 a.m. ET (1335 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 86.47 points, or 0.54pc, at 16,207.85.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.8pc as gold futures rose 1.0pc to $1,905.7 an ounce.
The largest percentage gainer on the TSX was CAE Inc, which jumped 6.1pc after BMO upgraded the rating of the flight simulator maker's stock to "outperform" from "market perform."
Its gains were followed by Brookfield Property Partners L.P, which rose 2.7pc.
The energy sector dropped 0.3pc as US crude prices were down 3.1pc a barrel, while Brent crude lost 2.8pc.
On the TSX, 179 issues were higher, while 36 issues declined for a 4.97-to-1 ratio favouring gainers, with 8.29 million shares traded.
Cenovus Energy Inc fell 4pc, the most on the TSX, after JPMorgan downgraded the stock to "underweight" from "neutral" and the second-biggest decliner was NovaGold Resources Inc, down 3.0pc.
The most heavily traded shares by volume were Orosur Mining Inc, Avalon Advanced Materials Inc, and NextSource Materials Inc.
The TSX posted four new 52-week highs and no new lows.
Across all Canadian issues, there were seven new 52-week highs and four new lows, with total volume of 20.71 million shares.
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