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CANADA STOCKS-TSX closes higher as trade war fears recede

Published 2018-03-05, 04:36 p/m
© Reuters.  CANADA STOCKS-TSX closes higher as trade war fears recede

TORONTO, March 5 (Reuters) - Canada's main stock index closed higher in its first positive session in five, as investors interpreted U.S. President Donald Trump's threats to impose tariffs on steel and aluminum imports as a negotiating tactic to get a better deal on NAFTA talks.

* The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended the day 156.69 points, or 1 percent, higher at15,541.28, reversing early losses.

* Trump tweeted on Monday that Canada and Mexico could be exempt from the tariffs if a "new & fair" North American FreeTrade Agreement is signed. Representatives from the UnitedStates, Canada and Mexico are meeting in Mexico City on Monday to wrap up the latest round of discussions on the trade agreement. Canada sends 75 percent of its exports to the UnitedStates. U.S. House Speaker Paul Ryan urged the Trump administration not to move forward on the tariffs, citing risks to the economy, after Trump's threats led to warnings about retaliatory moves from trading partners. All 10 sectors on the TSX index ended the day in positive territory.

* The biggest gainer was Crew Energy Inc CR.TO , which recovered from an all-time low hit on March 1 to close up 17.3 percent, after reporting increases in its adjusted funds flow and production. Marijuana producer Canopy Growth Corp WEED.TO was the second-biggest gainer, rising 11.7 percent.

* The healthcare group was the best-performing sector, witha 5.7 percent jump.

* Energy-related companies Baytex Energy Corp BTE.TO , Trican Well Service Ltd TCW.TO and Ensign Energy Services Inc ESI.TO were also among the 10 biggest gainers, rising 10.2percent, 7.5 percent and 7.2 percent respectively.

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* U.S. crude futures CLc1 climbed 2.2 percent to $62.58 abarrel. The energy group was the second-biggest gainer on theTSX, advancing 1.8 percent.

* Interfor Corp IFP.TO was the biggest decliner, with a3.9 percent loss, followed by Corus Entertainment Inc CJRb.TO ,which fell 3.5 percent.

* The consumer non-cyclicals group, which was littlechanged, was the worst performing sector.

* Canopy Growth WEED.TO and Bombardier Inc BBDb.TO werethe most active stocks by volume on the index.

* The TSX had 190 advancing issues and 59 declining ones.One was flat.

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