Toronto Stock Exchange index rose on Tuesday, powered by gains in energy stocks as oil prices rose on easing expectations of higher supply from crude exporter Iran.
* The energy sector climbed 1.0% as U.S. crude prices were up 0.2% a barrel, while Brent crude was unchanged. [O/R]
* At 09:18 a.m. ET (13:48 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 115.01 points, or 0.59%, at 19,642.31.
* The Canadian dollar edged lower against its broadly weaker U.S. counterpart as domestic data showed a likely drop for manufacturing sales in April, but the currency stayed within reach of last week’s 6-year high.
* Steelmaker Algoma Steel is becoming a publicly listed company through a merger agreed with New York-based blank-check firm Legato Merger Corp in a deal that will value the combined company at more than $1 billion.
* The financials sector gained 0.7%. The industrials sector rose 0.8%.
* The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.2% as gold futures were down 0.2% an ounce. [GOL/]
* On the TSX, 118 issues were higher, while 106 issues declined for a 1.11-to-1 ratio favoring gainers, with 23.87 million shares traded.
* The largest percentage gainers on the TSX were Ivanhoe Mines Ltd <IVN.TO>, which jumped 6.2%, and Toromont Industries <TIH.TO>, which rose 5.4%.
* Finning International Inc <FTT.TO> fell 6.5%, the most on the TSX, after BMO cut its target price.
* The second-biggest decliner was Trillium Therapeutics <TRIL.TO>, down 3.1%.
* The most heavily traded shares by volume were Air Canada <AC.TO> and The Supreme Cannabis Company <FIRE.TO>.
* The TSX posted 16 new 52-week highs and no new lows.
* Across all Canadian issues there were 81 new 52-week highs and 7 new lows, with total volume of 51.02 million shares.
(Reporting by Shivani Kumaresan in Bengaluru; Editing by Aditya Soni)
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