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TSX gains on rise in energy shares

Published 2019-03-18, 10:04 a/m
© Reuters.  CANADA STOCKS-TSX gains on rise in energy shares
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March 18 (Reuters) - Canada's main stock index gained on Monday, helped by gains in energy shares on the back of higher crude prices.

* The energy sector .SPTTEN edged up 0.6 percent, as oil gained on the prospect of prolonged OPEC-led oil supply curbs. O/R

* At 9:45 a.m. ET (13:45 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 53.91 points, or 0.33 percent, at 16,194.26.

* The Canadian dollar was little changed against its U.S. counterpart, trading in a narrow range ahead of Tuesday's federal budget, as oil prices rose and investors bet that the U.S. Federal Reserve will strike a dovish tone this week. The Federal Reserve's two-day policy meeting begins on Tuesday, where the central bank is widely expected to stick to its pledge of a "patient" approach to monetary policy. The interest rate sensitive financials sector .SPTTFS gained 0.5 percent, the most among the seven major sectors trading higher.

* On the TSX, 158 issues were higher, while 77 issues declined for a 2.05-to-1 ratio favouring gainers, with traded volume touching 23.66 million shares.

* The largest percentage gainer on the TSX was Hexo Corp HEXO.TO , which rose 4.7 percent after brokerage Cormark Securities upgraded stock to "buy" from "speculative buy".

* Transalta Corp TA.TO , the second biggest gainer on the main index, rose 4 percent.

* Westshore Terminals Investment Corp WTE.TO fell 3.9 percent, the most on the TSX, after brokerage BMO cut its price target on stock. The second biggest decliner was Knight Therapeut GUD.TO , down 3.4 percent after Cormark Securities lowered its price target on stock.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Hexo Corp HEXO.TO and Manulife Financial Corp MFC.TO .

* The TSX posted five new 52-week highs and two new lows.

* Across all Canadian issues, there were 49 new 52-week highs and four new lows, with total volume touching 36.28 million shares.

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