May 6 (Reuters) – Canada’s main stock index was little changed on Thursday, as gains in gold were countered by a drop in oil prices, while Bombardier rose after strong quarterly results.
* At 09:38 a.m. ET (13:38 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 3.64 points, or 0.02%, at 19,307.1.
* Gold rose for a second straight session after the dollar retreated, as investors awaited U.S. economic data to gauge the Federal Reserve’s strategy on monetary support going forward.
* The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.0% as gold futures rose 0.5% to $1,792.7 an ounce.
* Oil prices slipped after early gains, pressured by rising COVID-19 infections in India and elsewhere and despite a much sharper than expected fall in U.S. crude inventories.
* Bombardier rose 3.3% after the company’s quarterly adjusted profit jumped 43% and it used less free cash, helped by a recovery in business aviation, as rising COVID-19 vaccinations encourage travel.
* Auto parts maker Magna International Inc added 1% after reporting a 136% rise in quarterly profit and raising its full-year revenue outlook.
* The financials sector slipped 0.1%. The industrials sector fell 0.3%.
* On the TSX, 103 issues were higher, while 117 issues declined for a 1.14-to-1 ratio to the downside, with 16.04 million shares traded.
* The largest percentage gainers on the TSX were Spin Master Corp and SSR Mining Inc, jumping 10.4% and 5.8% respectively after strong quarterly results.
* Cascades Inc fell 6.1%, the most on the TSX, after poor quarterly results.
* The second biggest decliner was Stantec Inc, down 4.7%.
* The most heavily traded shares by volume were Enbridge Inc , Nevada Copper and Manulife Financial Corp .
* The TSX posted 10 new 52-week highs and one new low.
* Across all Canadian issues there were 70 new 52-week highs and 13 new lows, with total volume of 33.95 million shares. (Reporting by Shivani Kumaresan in Bengaluru; Editing by Shailesh Kuber)
