Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

CANADA STOCKS-TSX advances as oil prices boost energy stocks

Published 2018-08-14, 10:12 a/m
Updated 2018-08-14, 10:20 a/m
© Reuters.  CANADA STOCKS-TSX advances as oil prices boost energy stocks

© Reuters. CANADA STOCKS-TSX advances as oil prices boost energy stocks

(Reuters) - Canada's main stock index climbed on Tuesday as higher oil prices lifted energy stocks and concerns around Turkey's currency crisis receded.

* At 9:43 a.m. ET (1343 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 30.87 points, or 0.19 percent, at 16,281.62.

Turkey's lira TRYTOM=D3 eased after the country's central bank moved to ease pressure on the currency, which had plummeted to an all-time low of 7.24 to the dollar early on Monday. Six of the index's 11 major sectors were trading higher.

* The biggest boost to the index was the energy sector .SPTTEN , which rose 0.9 percent, with boost from nearly 1 percent gain in Suncor Energy SU.TO and Canadian Natural Resources CNQ.TO .

* Oil prices gained more than a percent as Saudi Arabia's production cut and U.S. sanctions on Iran fueled concerns over global supply. U.S. crude CLc1 prices were up 1.5 percent a barrel, while Brent crude LCOc1 added 1.7 percent. O/R

* The financials sector .SPTTFS also supported the main index with a 0.2 percent rise. Toronto-Dominion Bank TD.TO , Manulife Financial Corp MFC.TO and Royal Bank of Canada RY.TO added between 0.3 percent to 1 percent and led the financial index higher.

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, lost 0.4 percent. Gold prices eased slightly but hovered at 18-month lows.

* Gold futures GCc1 rose 0.4 percent to $1,195.5 an ounce, while copper prices CMCU3 declined 1.8 percent to $6,045 a tonne. GOL/ MET/L

* The largest percentage gainers on the TSX were Element Fleet Management EFN.TO , which jumped 7.6 percent after posting second quarter results and Eldorado Gold ELD.TO , which rose 4 percent.

* Home Capital Group HCG.TO fell 4.6 percent, the most on the TSX, after the Canadian lender issued its second quarter report. The second biggest decliner was Canopy Growth Co WEED.TO , down 4.4 percent.

* The most heavily traded shares by volume were Bombardier B BBDb.TO , Aurora Cannabis ACB.TO and Hydro One Limited Hir.TO .

* On the TSX, 145 issues were higher, while 86 issues declined for a 1.69-to-1 ratio favouring gainers, with 10.15 million shares traded.

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

* Across all Canadian issues there were five new 52-week highs and 22 new lows, with total volume of 17.17 million shares.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.