TORONTO: Canada’s main stock index was set for its third-straight session of gains on Thursday, aided by technology and energy shares, although trading volumes are likely to be low because of the US Thanksgiving holiday. At 9:39 a.m. ET (1439 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 71.82 points, or 0.33%, at 21,620.25.
With US markets closed for Thanksgiving, risk sentiment in the Canadian market stayed low. Toronto-listed technology stocks gained 0.8% led by nearly 4% jump by Lightspeed Commerce Inc and Hut 8 Mining Corp.
The energy sector climbed 0.4% despite weakness in oil prices as investors eyed how major producers respond to the US-led emergency oil release designed to cool the market. The benchmark equity index, which scaled record highs this month, ran out of steam last week, hurt by weaker commodities and the resurgence of COVID-19 cases in Europe threatening to slow down global economic recovery.
The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.1% as gold futures rose 0.4%. The financials sector, which account for about 30% of the Toronto market’s value gained 0.3%.
HIGHLIGHTS
The largest percentage gainers on the TSX were Lightspeed Commerce Inc, which jumped 4% and Interfor Corporation , which rose 1.5% extending gains from the previous session after announcing an agreement to buy EACOM timber.
Westport Fuel Systems Inc fell 1.6%, the most on the TSX, and the second biggest decliner was Lundin Mining Corp , down 1.6%. The TSX posted six new 52-week highs and no new lows.
Across all Canadian issues there were 20 new 52-week highs and seven new lows, with total volume of 20.99 million shares.
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