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CANADA STOCKS-TSX slightly higher despite oil output deal failure

Published 2016-04-18, 10:32 a/m
© Reuters.  CANADA STOCKS-TSX slightly higher despite oil output deal failure
TECK
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LCO
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CL
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0P6E
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GSPTSE
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CIX
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(Updates prices, adds detail on oil deal failure)
* TSX up 9.15 points, or 0.07 percent, to 13,646.35
* Eight of the TSX's 10 main groups rose

TORONTO, April 18 (Reuters) - Canada's main stock index made
modest gains in early trade on Monday, with most sectors rising
and subdued declines in the heavyweight energy group despite the
failure of a weekend meeting of oil-producing countries to agree
an output freeze.
At 10:13 a.m. EDT (1413 GMT), the Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE rose 9.15 points, or 0.07
percent, to 13,646.35.
Eight of the index's 10 main groups were in positive
territory, although none were up more than 0.6 percent.
Pipeline operators gained, with TransCanada Corp TRP.TO up
0.8 percent to C$50.66 and Enbridge Inc ENB.TO advancing 0.7
percent to C$52.34.
The most influential weights on the index included CI
Financial Corp CIX.TO , which declined 3.9 percent to C$27.91.
Major oil producer Suncor Energy Inc SU.TO fell 0.4
percent to C$35.77, but the overall group was only down 0.24
percent.
Oil prices slid after the demise of the freeze plan as OPEC
heavyweight Saudi Arabia demanded Iran join in despite its
repeated assertions it would not do so until it had reached
pre-sanctions levels of output.
Gold miners also slipped, with Detour Gold Corp DGC.TO
down 4.0 percent to C$24.75 and Goldcorp Inc G.TO off 1.4
percent.
Base metal miners gained, with Teck Resources Ltd TCKb.TO
rising 2.4 percent to C$11.16 and First Quantum Minerals Ltd
FM.TO added 3.2 percent to C$7.37.
The financials group was barely higher.
U.S. crude CLc1 prices were down 2.8 percent to $39.23 a
barrel, while Brent crude LCOc1 lost 2.4 percent to $42.07.

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