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CANADA STOCKS-TSX higher as financials gain amid rate hike prospects

Published 2018-07-09, 10:15 a/m
© Reuters.  CANADA STOCKS-TSX higher as financials gain amid rate hike prospects
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July 9 (Reuters) - Canada's main stock index rose on Monday as financial shares gained on expectations of an interest rate hike later this week.

* At 9:34 a.m. ET (1334 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 45.91 points, or 0.28 percent, at 16,417.69.

* The Bank of Canada will hike interest rates on July 11 as strong job growth and rising inflation pressures override concerns about a deepening trade rift with the United States, a Reuters poll showed on Friday. The Canadian dollar was at a near four-week high against its U.S. counterpart also helped by higher oil prices. Nine of the index's 11 major sectors were higher, led by a 0.2 percent gain in the financial sector .SPTTFS .

* The materials sector .GSPTTMT added 0.9 percent as gold extended its recovery and copper prices rallied. GOL/ MET/L

* The energy sector .SPTTEN climbed 0.5 after oil prices rose as increased global demand and U.S. efforts to shut out Iranian output using sanctions outweighed drilling data suggesting U.S. shale production would climb. O/R

* The industrials sector .GSPTTIN rose 0.6 percent, helped by a 1.6 percent rise each in shares of Canadian National Railway Co CNR.TO and Canadian Pacific Railway CP.TO .

* On the TSX, 183 issues were higher, while 55 issues declined for a 3.33-to-1 ratio favouring gainers, with 6.18 million shares traded.

* Top percentage gainers on the TSX were Pretium Resources Inc PVG.TO , which jumped 18.5 percent, and Torex Gold Resources Inc TXG.TO , which rose 3.8 percent.

* Nexgen Energy Ltd NXE.TO was the top loser on the TSX, with a 1.5 percent drop, followed by Centerra Gold CG.TO , which fell 1.4 percent.

* The most heavily traded shares by volume were Aurora Cannabis ACB.TO , Niko Resources NKO.TO and Nemaska Lithium NMX.TO .

* The TSX posted six new 52-week highs and no new lows.

* Across all Canadian issues there were eight new 52-week highs and three new lows, with total volume of 11.12 million shares.

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