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CANADA STOCKS-TSX gains on upbeat data, rising energy stocks

Published 2018-04-17, 10:39 a/m
© Reuters.  CANADA STOCKS-TSX gains on upbeat data, rising energy stocks
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April 17 (Reuters) - Canada's main stock index rose on Tuesday, helped by upbeat manufacturing data and as energy shares rose alongside oil prices.

* At 10:01 a.m. ET (1401 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was up rose 26.57 points, or 0.17 percent, at 15,326.95. Nine of the index's 10 main sectors were in positive territory.

* Economic data was upbeat, with Statistics Canada data showing Canadian manufacturing sales rose more than expected in February after two months of declines. Also helping sentiment was improved prospects of a revamped North American Free Trade Agreement. Mexico's economy minister said, barring some "tiny details," work was finished on chapters including telecoms, energy and technical barriers to trade. The biggest boost to TSX index came from the energy sector, which climbed 0.2 percent as oil prices ticked higher on rising concerns over the potential for supply disruptions. O/R

* Shares of Enbridge Inc ENB.TO rose 1.7 percent and was the biggest boost to the energy and overall TSX indexes.

* The technology sector gained 1.7 percent, helped by Shopify's SHOP.TO near 4-percent increase.

* Also helping was Open Text 's OTEX.TO 3.5 percent rise after activist hedge fund Blue Harbour Group LP CEO said the business information management software company could be acquired. Investors are also braced for the potential of a more upbeat economic assessment by the Bank of Canada meeting this week, at which it is expected to keep interest rate unchanged.

* Another rate hike is not expected until July. BOCWATCH But the central bank's optimism could raise expectations for a May hike.

* The heavyweight financials sector advanced 0.2 percent, led gains in the stocks of big banks.

* On the downside, gold prices lost ground, dipping 0.3 percent amid a revival in risk appetite. GOL/

* The TSX posted eight new 52-week highs and two new lows. Across all Canadian issues there were 11 new 52-week highs and 10 new lows.

* The largest percentage gainer on the TSX was Alaris Royalty AD.TO , which rose 5.3 percent, while the largest decliner was Aphria Inc APH.TO , down 3.4 percent.

* Among the most active Canadian stocks by volume were Aurora Cannabis ACB.TO , Aphria Inc APH.TO and Canopy Growth Co WEED.TO .

* Volume on the TSX index was 24.97 million shares, while the total volume on Tuesday was 37.34 million shares.

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