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CANADA STOCKS-Energy stocks lift TSX as oil prices climb

Published 2018-09-27, 10:24 a/m
© Reuters.  CANADA STOCKS-Energy stocks lift TSX as oil prices climb
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Sept 27 (Reuters) - Canada's main stock index rose on Thursday as energy shares were boosted by a 1 percent rise in oil prices ahead of U.S. sanctions against major crude exporter Iran.

* At 9:44 a.m. ET (13:44 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 50.88 points, or 0.31 percent, at 16,220.16.

* Eight of the index's 11 major sectors were higher, led by a 1.4 percent gain in the energy sector .SPTTEN .

* Cenovus Energy CVE.TO shares rose 4.4 pct after the energy producer said it had signed three-year deals with Canadian National Railway CNR.TO and Canadian Pacific Railway CP.TO to transport crude. Canadian National Railway rose 0.4 percent while Canadian Pacific Railway was up 1.5 percent.

* The energy group was also supported by higher oil prices which were driven by a prospect of shortfall in global supply ahead of imminent U.S. sanctions against Iran. O/R

* U.S. crude CLc1 prices were up 0.6 percent a barrel, while Brent crude LCOc1 added 0.3 percent.

* The financials sector .SPTTFS gained 0.3 percent boosted by gains in shares of Royal Bank of Canada RY.TO and Toronto-Dominion Bank TD.TO .

* The materials sector .GSPTTMT , the biggest laggard on the main index, down 0.4 percent as gold futures GCc1 fell 0.9 percent to $1,183.8 an ounce, while copper prices CMCU3 declined 1.6 percent to $6,181.5 a tonne. GOL/ MET/L

* The largest percentage gainer on the TSX was Cameco Corp CCO.TO , which jumped 18.5 percent after a favorable ruling from the Tax Court of Canada. The second biggest advancing stock was Wheaton Precious Metals WPM.TO , which rose 5.1 percent.

* Detour Gold Corp DGC.TO fell 3.9 percent, the most on the TSX followed by Torex Gold Resources TXG.TO , down 3.4 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Wallbridge Min WM.TO , and Royal Nickel RNX.TO .

* On the TSX, 153 issues were higher, while 87 issues declined for a 1.76-to-1 ratio favoring gainers, with 24.59 million shares traded.

* The TSX posted two new 52-week highs and three new lows.

* Across all Canadian issues there were 12 new 52-week highs and 11 new lows, with total volume of 43.22 million shares.

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