Nov 16 (Reuters) - Canada’s main stock index rose on Monday, as energy stocks jumped 3% tracking oil prices, after U.S. drugmaker Moderna Inc said its experimental vaccine was 94.5% effective in preventing COVID-19.
* Moderna Inc became the second U.S. company in a week to report positive results from its COVID-19 vaccine trial, which raised hopes of a quicker economic recovery from a pandemic-led recession.
* Adding to the upbeat mood, Canada’s factory sales increased by 1.5% in September from August on higher sales in the wood industry, as well as the chemical industry, Statistics Canada said.
* Crude prices rose about 4% and boosted energy stocks , with oil producer Parex Resources Inc, up 6.1%, leading gains.
* At 9:41 a.m. ET (1441 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 60.24 points, or 0.36%, at 16,735.88.
* The materials sector, which includes precious and base metals miners, lost 0.5% as gold prices fell.
* Fortuna Silver Mines Inc fell 4.9%, the most on the TSX, after Canaccord Genuity downgraded the stock
* The second biggest decliner was Endeavour Mining Corp , down 3.7%, after the miner agreed to buy Teranga Gold in deal worth $2.4 billion.
* On the TSX, 137 issues were higher, while 84 issues declined for a 1.63-to-1 ratio favouring gainers, with 29.95 million shares traded.
* H&R Real Estate Investment Trust rose 5.7% after TD Securities raised its price target on the real estate investment trust’s stock.
* The most heavily traded shares by volume were Manulife Financial Corp, Air Canada and Suncor Energy Inc.
* The TSX posted four new 52-week highs and no new low.
* Across all Canadian issues there were 52 new 52-week highs and three new lows, with total volume of 53.36 million shares.
Reporting by Amal S in Bengaluru; Editing by Amy Caren Daniel
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