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CANADA STOCKS-TSX higher as oil prices rise

Published 2018-03-21, 10:23 a/m
© Reuters.  CANADA STOCKS-TSX higher as oil prices rise

March 21 (Reuters) - Canada's main stock index rose on Wednesday, boosted by energy shares as oil prices hovered near six-week highs, while investors also focused on a U.S. Federal Reserve meeting where it is widely expected to raise interest rates.

* The materials sector was up 4.5 points as tensions surrounding NAFTA talks eased on reports of U.S. dropping one of the key demands. The Fed's first policy meeting under Chairman Jerome Powell is scheduled for later in the day and is expected to offer clues on the pace of monetary tightening.

* At 10:04 a.m. ET (1404 GMT), the Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE rose 19.98 points, or 0.13 percent, to 15,636.34.

* The TSX posted two new 52-week highs and one new low. Across all Canadian issues there were seven new 52-week highs and 14 new lows.

* The largest percentage gainer on the TSX was Enerplus Corp ERF.TO , which rose 5.7 percent. Westshore Terminals Investment WTE.TO was the biggest loser, with a 4.3 percent fall.

* First Quantum FM.TO was down 1.6 percent after Zambia's tax agency on Tuesday slapped the company with $8.04 billion in unpaid import duties.

* Among the most active Canadian stocks by volumes were First Quantum FM.TO and Trican Well Services TCW.TO , up 4.1 percent to $3.33.

* Volume on the TSX index was 41.56 million shares, while total volume on Wednesday was 61.21 million shares.

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