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CANADA STOCKS-TSX gains led by financial, energy stocks

Published 2018-05-04, 10:36 a/m
© Reuters.  CANADA STOCKS-TSX gains led by financial, energy stocks
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May 4 (Reuters) - Canada's main stock index rose on Friday, boosted by the heavy-weight financial sector and energy companies, which were supported by higher oil prices.

* At 9:45 a.m. ET (1345 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE rose 23.28 points, or 0.15 percent, to 15,644.75.

* Shares of Manulife Financial Corp MFC.TO and Bank of Nova Scotia BNS.TO , both of which were up about 0.7 percent, helped the finiancial group gain 0.13 percent.

* Oil prices strengthened as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. O/R

* Also helping the energy sector was Pembina Pipeline PPL.TO , up 3 percent, after the company on Thursday reported higher quarterly revenue, expansion of its Peace Pipeline system and an increase to its monthly dividend.

* Eight of Canada's 10 main index sectors were higher.

* Among stocks, Enbridge Inc ENB.TO on Thursday agreed to pay $1.86 million in penalties for an alleged failure in inspecting certain lines within its Lakehead pipeline system. Shares of the pipeline operator gained 1.6 percent. TransCanada Corp 's TRP.TO shares gained 0.3 percent after pressure restrictions on the pipeline operator's Keystone oil pipeline were lifted on Tuesday in a letter issued by U.S. pipeline safety regulators, a spokesman for the agency told Reuters on Thursday. The TSX posted two new 52-week highs and two new lows. Across all Canadian issues, there were six new 52-week highs and eight new lows.

* The largest percentage gainer on the TSX was Martinrea International MRE.TO , which rose 10.7 percent after the company posted first-quarter results that were above analysts' expectations.

* Enerflex Ltd EFX.TO was the largest decliner on the main index after the company reported quarterly revenue that missed estimates, sending its shares down 7.7 percent.

* Among the most active Canadian stocks by volume was Baytex Energy Co BTE.TO , which fell 4.7 percent to $5.47 after the company reported its first-quarter results on Thursday.

* Bombardier BBDb.TO and Aurora Cannabis ACB.TO were also among the most heavily traded stocks.

* Volume on the TSX index was 15.64 million shares. Total volume on Friday was 23.88 million shares.

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