June 18, 2019 / 2:13 PM / a month ago

CANADA STOCKS-TSX rises as energy, material shares gain

June 18 (Reuters) - Canada’s main stock index gained on Tuesday, driven by precious metal miners and energy companies, ahead of the Federal Reserve’s two-day monetary policy meeting.

* Sentiment was buoyed by ECB President Mario Draghi’s comments indicating a possibility of new rate cuts or asset purchases and investors hoped for a similar accommodative stance from the Federal Reserve.

* The materials sector, which includes precious and base metals miners and fertilizer companies, rose 1.2% as gold prices neared 14-month highs.

* At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 125.04 points, or 0.76%, at 16,478.49.

* The energy sector climbed 1.1% as U.S. crude prices were up 1.5% per barrel, while Brent crude added 0.6%.

* Ten of the index’s 11 major sectors were higher, with only the defensive consumer staples posting a small loss.

* On the TSX, 218 issues were higher, while 18 issues declined for a 12.11-to-1 ratio favouring gainers, with traded volumes touching 23.20 million shares.

* The largest percentage gainer on the TSX was Westshore Terminals Investment Corp, which jumped 6.2%. This was followed by Canfor Corp, which rose 6.2%.

* Hudson’s Bay fell 2.4%, the most on the TSX, after activist shareholder Jonathan Litt lambasted a C$1.74 billion bid to take the Canadian retailer private as “woefully inadequate”.

* The most heavily traded shares by volume were BCE Inc , Argex Titanium Inc and Bombardier.

* The TSX posted 24 new 52-week highs and no new low.

* Across all Canadian issues, there were 105 new 52-week highs and five new lows, with total volume touching 40.07 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by James Emmanuel)

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