July 23, 2019 / 2:11 PM / a month ago

CANADA STOCKS-TSX rises, mirrors gain in global equities

July 23 (Reuters) - Canada’s main stock index rose on Tuesday, tracking gains in global equities as investors anticipate major central banks to cut interest rates in the near future.

* At 9:38 a.m. ET (1338 GMT), the Toronto Stock Exchange’s S&P/TSX Composite index was up 49.35 points, or 0.3%, at 16,568.23.

* A speeding autos sector and hopes for even lower borrowing costs buoyed world stocks on Tuesday.

* Eight of the index’s 11 major sectors were higher.

* The energy sector climbed 0.4% as U.S. crude prices were up 0.2%, while Brent crude added 0.1%.

* The financials sector gained 0.4%. The industrials sector rose 0.1%.

* However, the International Monetary Fund lowered its forecast for global growth this year and the next, warning that more U.S.-China tariffs, auto tariffs or a disorderly Brexit could further slow growth, weaken investment and disrupt supply chains.

* On the TSX, 156 issues were higher, while 71 issues declined for a 2.20-to-1 ratio favouring gainers, with 9.66 million shares traded.

* The largest percentage gainers on the TSX were Canfor Corp , which jumped 5.3%, followed by shares of Interfor Corp , which rose 3.3%.

* SNC Lavalin fell 4.7%, the most on the TSX, followed by those of Semafo Inc, which fell 3%.

* The most heavily traded shares by volume were Nemaska Lithium Inc, Royal Nickel and Erdene Resource Development.

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

* Across all Canadian issues there were 35 new 52-week highs and four new lows, with total volume of 21.87 million shares. (Reporting by Shreyashi Sanyal in Bengaluru)

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