May 7, 2020 / 2:25 PM / a month ago

CANADA STOCKS-TSX gains as oil stocks surge on rising crude prices

(Adds details, updates prices)

May 7 (Reuters) - Canada’s main stock index rose on Thursday, led by energy shares after an unexpected rise in Chinese exports raised hopes of a revival in global demand and boosted oil prices.

* At 9:45 a.m. ET (1345 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 185.29 points, or 1.25%, at 15,016.03.

* Oil prices jumped on news that China’s exports rose in April, and also tracked a sharp increase in Saudi Arabia’s crude oil official selling price.

* The energy sector climbed 3.2%, leading gains among the Canadian subindexes.

* The materials sector, which includes precious and base metals miners and fertilizer companies, added 0.7% as base metal prices also rose on the prospect of demand creeping back into markets.

* On the TSX, 192 issues were higher, while 34 issues declined for a 5.65-to-1 ratio favouring gainers, with 32.34 million shares traded.

* The largest percentage gainers on the TSX were Primo Water Corp, which jumped 11.8%, and Tourmaline Oil, which rose 6.8%. Both stocks gained after reporting strong first-quarter results.

* Bausch Health Co fell 7.2%, the most on the TSX, after posting a first-quarter loss. Spin Master Corp, which also reported a quarterly loss, was the second-biggest decliner, with its shares falling 5.9%.

* The most heavily traded shares by volume were Freegold Ventures, Enbridge Inc and Bombardier B .

* The TSX posted seven new 52-week highs and no new lows.

* Across all Canadian issues, there were 11 new 52-week highs and one new low, with total volume of 55.83 million shares. (Reporting by Ambar Warrick in Bengaluru; Editing by Rashmi Aich and Maju Samuel)

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