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CANADA STOCKS-TSX bounces off over two-year lows on Poloz comments

Published 2018-12-18, 10:14 a/m
© Reuters.  CANADA STOCKS-TSX bounces off over two-year lows on Poloz comments
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Dec 18 (Reuters) - Canada's main stock index rose on Tuesday after notching its lowest close in more than two years in the previous session, as Bank of Canada Governor Stephen Poloz said interest rate hikes could be interrupted amid signs of slowing growth and low oil prices.

* At 9:35 a.m. ET (14:35 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 53.36 points, or 0.37 percent, at 14,416.01.

* The index rose for the first time in four sessions.

* The pace of interest rate hikes in Canada could be interrupted or sped up depending on the economic circumstances, Poloz said late on Monday. The heavyweight financials sector .SPTTFS gained 0.4 percent and the industrial sector .GSPTTIN rose 0.9 percent.

* The energy sector .SPTTEN was the biggest loser with a 0.6 percent drop, after U.S. crude CLc1 prices fell 1.5 percent a barrel and Brent crude LCOc1 dropped 1.2 percent. O/R

* The materials sector .GSPTTMT , which includes precious and base metals miners and fertilizer companies, added 0.4 percent.

* On the TSX, 147 issues were higher, while 87 issues declined for a 1.69-to-1 ratio favouring gainers, with 12.71 million shares traded.

* Still, the TSX posted no new 52-week highs and 19 new lows.

* The largest percentage gainer on the TSX was Aphria Inc APHA.TO , which jumped 6.4 percent after the cannabis company's license for an oral drug delivery system expanded to Germany.

* The second-biggest gainer was Shopify Inc SHOP.TO , which rose 3.6 percent after Wells Fargo (NYSE:WFC) initiated with an "outperform" rating on the e-commerce company's shares.

* CES Energy Solutions Corp CEU.TO fell 3.1 percent, the most on the TSX. The second-biggest decliner was TFI International Inc TFII.TO , down 3.0 percent, as National Bank of Canada downgraded the transportations and logistics company's stock to "sector perform".

* The most heavily traded shares by volume were Birchcliff Energy Ltd BIR.TO , Aphria Inc and Whitecap Resources Inc WCP.TO .

* Across all Canadian issues, there were six new 52-week highs and 81 new lows, with total volume of 21.36 million shares.

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