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(Reuters) – Canada’s main stock index rose on Wednesday, supported by energy and material stocks, as investors hope for U.S. stimulus as Joe Biden takes over as the next president. * Investors are focused on hopes of a big relief package as U.S. President-elect Joe Biden will be sworn into office later today. Last week he outlined a $1.9 trillion stimulus package proposal to jump start the economy from pandemic-driven slump. * The energy sector climbed 1.1% as U.S. crude prices were up 1.3% a barrel, while Brent crude added 1.1%. [O/R] * The materials sector, which includes precious and base metals miners and fertilizer companies, added 1.5% as gold futures rose 0.3% to $1,844.4 an ounce. [GOL/] * At 9:37 a.m. ET (14:37 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was up 43.62 points, or 0.24%, at 18,000.99. * Locally data showed the nation’s annual inflation rate slowed to 0.7% in December from 1.0% the previous month amid a new round of COVID-19 lockdowns and declining costs of food and airplane tickets. * The largest percentage gainer on the TSX was Blackberry Limited, which jumped 8%, extending gains from prior session after the cybersecurity firm settled patent […]
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