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CANADA STOCKS-Toronto stocks inch up on higher oil prices, global stocks

Published 2018-03-15, 10:12 a/m
© Reuters.  CANADA STOCKS-Toronto stocks inch up on higher oil prices, global stocks
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March 15 (Reuters) - Canada's main stock index crept up on Thursday, lifted by higher oil prices and a tentative rise in global stocks, with Magna International Inc MG.TO leading the charge after announcing a partnership with U.S. ride-hailing company Lyft Inc.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was trading up 37.75 points, or 0.24 points, at 15,692.97 at 10 a.m. EDT (1400 GMT). Eight of the 10 major sector groups were in positive territory.

* Magna was the biggest gainer on the index, up as much as 4.3 percent to C$72.79, a two-week high, after the auto parts maker said on Wednesday it would invest $200 million in Lyft and work with the U.S. company to manufacture self-driving cars. Wood products maker Stella-Jones Inc SJ.TO was the second-biggest gainer, recovering from a 6.2 percent drop on Wednesday after saying its margins would remain under pressure in 2018. It was up 3.6 percent at C$45.99 on Thursday. Energy companies including Spartan Energy Corp, TORC Oil & Gas Ltd and Birchcliff Energy Ltd were among the 10 biggest gainers, rising 2.4 percent, 2.2 percent and 2 percent respectively.

* U.S. crude futures CLc1 advanced 0.5 percent to $61.29 a barrel.

* Gold and silver miner Klondex Mines Ltd KDX.TO was the biggest decliner on the index, losing 9.6 percent.

* Other miners, including Ivanhoe Mines Ltd, Lundin Mining Corp and Eldorado Gold Corp, were also among the 10 biggest decliners, as metal prices pulled back.

* Gold futures GCcv1 dropped 0.6 percent to $1,318.40 an ounce. Copper futures CMCU3 lost 1.3 percent to $6,900 a tonne.

* Consumer cyclicals was the group with the biggest gains on the index, climbing 1.1 percent. Healthcare was the biggest decliner, falling 0.4 percent.

* The TSX had 142 advancing issues, 97 declining ones and 11 flat.

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