TSX gains on energy boost; investors await federal budget
(Reuters) - Canada's main stock index rose on Tuesday, helped by gains in energy shares that got a lift from higher crude prices. * Canada's government will present its last budget ahead of the federal election in October, which is expected to include plenty of stimulus measures. Details will be released at 4 p.m. ET (2000 GMT) on Tuesday. * The U.S. Federal Reserve's two-day policy meeting also begins on Tuesday. * The interest rate-sensitive financials sector inched up 0.1 percent. * At 9:42 a.m. ET (13:42 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 8.45 points, or 0.05 percent, at 16,259.82. * Healthcare sector, up 1.67 percent, led the gains among the 5 major sectors trading higher. The sector was helped by rise in cannabis producers. * The energy sector rose 0.7 percent as U.S. crude prices were up 0.6 percent per barrel, while Brent crude added 0.6 percent. * Oil prices were supported by supply cuts by OPEC members and falling output in Iran and Venezuela due to U.S. sanctions. * On the TSX, 141 issues were higher, while 95 issues declined for a 1.48-to-1 ratio favouring gainers, with traded volume touching 23.40 million shares. * The largest percentage gainers on the TSX were Hexo Corp, which rose 6.7 percent, and Maple Leaf Foods Inc, which rose 4.3 percent, after TD Securities upgrades to "action list buy" from "buy" * Northland Power Inc fell 10 percent, the most on the TSX, after $750 million secondary stock offering. * This was followed by Westshore Terminals Investment Corp, down 2 percent. * The most heavily traded shares by volume were Aurora Cannabis, up 1.9 percent, Hexo Corp and Green Organic Dutchman Holdings Ltd, up 5.1 percent. * The TSX posted seven new 52-week highs and no new low. * Across all Canadian issues, there were 30 new 52-week highs and two new lows, with total traded volume touching 38.03 million shares. (Reporting by Amy Caren Daniel in Bengaluru; Editing by James Emmanuel)
