February 20, 2019 / 3:13 PM / 7 months ago

CANADA STOCKS-TSX moves higher as gold powers gains in material stocks

Feb 20 (Reuters) - Gains in material companies pulled higher Canada’s main stock index on Wednesday, as gold prices rose on hopes of a trade deal between the United States and China.

* Investors are focused on the latest developments in the talks in Washington, and President Donald Trump on Tuesday suggested he was open to extending the deadline to complete negotiations.

* Up to now, it was assumed U.S. tariffs on $200 billion worth of Chinese imports would rise to 25 percent from 10 percent if no deal was reached by the March 1 deadline

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.2 percent as gold futures rose 0.1 percent to $1,341.9 an ounce.

* Barrick Gold rose 1.6 percent after the miner outlined a plan to settle disputes between its Acacia Mining unit and Tanzania’s government.

* The largest percentage gainers on the TSX were Bombardier Inc, which jumped 5.4 percent. Hudbay Minerals followed, up 2.6 percent after posting better-than-expected quarterly revenue.

* At 9:44 a.m. ET (14:44 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 27.71 points, or 0.17 percent, at 15,965.15.

* Five of the index’s 11 major sectors were lower, weighed down by the energy sector’s 0.1 percent drop.

* U.S. crude prices were down 0.5 percent a barrel, while Brent crude lost 0.7 percent.

* On the TSX, 100 issues were higher, while 132 declined for a 1.32-to-1 ratio to the downside, with 21.76 million shares traded.

* Uni-Select Inc fell 21.7 percent, the most on the TSX, after the auto parts distributor’s fourth-quarter results failed to impress.

The second biggest decliner was Aritzia Inc, down 7.9 percent after a secondary stock offering.

* The most heavily traded shares by volume were Bombardier Inc, Aurora Cannabis Inc and Crius Energy Trust.

* The TSX posted one new 52-week high and one new low.

* Across all Canadian issues there were 22 new 52-week highs and three new lows, with total volume of 36.83 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Sriraj Kalluvila)

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