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CANADA STOCKS-TSX higher as rising oil prices lift energy shares

Published 2019-02-22, 10:20 a/m
Updated 2019-02-22, 10:30 a/m
© Reuters.  CANADA STOCKS-TSX higher as rising oil prices lift energy shares

Feb 22 (Reuters) - Canada's main stock index rose to a four-month high on Friday, driven by energy shares on the back of crude prices, which rose on renewed hopes that the United States and China could resolve their ongoing trade dispute.

* Optimism on trade lifted shares across the world. Top U.S. and Chinese trade negotiators haggled on over the details of a set of agreements aimed at ending their trade war, just one week before a March 1 deadline for a deal expires. The energy sector .SPTTEN rose 1.2 percent as U.S. crude CLc1 prices were up 1 percent per barrel, while Brent crude LCOc1 added 0.5 percent. O/R

* The largest percentage gainers on the TSX were oil and gas companies Keyera Corp KEY.TO , which surged 9.3 percent and Enerplus Corp ERF.TO , which rose 7.3 percent. Both companies posted their quarterly results.

* At 9:47 a.m. ET (14:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 46.11 points, or 0.29 percent, at 16,046.97.

* The Canadian dollar strengthened against its U.S. counterpart as stocks and oil prices rose and domestic data showed a drop in retail sales that was less than the market expected. Retail sales edged down by 0.1 percent in December from November to C$50.35 billion due to lower gasoline prices, Statistics Canada said. Analysts had forecast a 0.3 percent decline. Magna International Inc MG.TO rose 3.9 percent after quarterly profit beat analysts' estimates as the auto parts maker assembled more vehicles, benefiting from new launches by car makers Jaguar Land Rover TAMOJL.UL and Daimler AG DAIGn.DE .

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* On the TSX, 176 issues were higher, while 57 issues declined for a 3.09-to-1 ratio favouring gainers, with traded volume touching 27.47 million shares.

* Altus Group AIF.TO fell 12.2 percent, the most on the TSX, while the second biggest decliner was Lucara Diamond Corp LUC.TO , down 8.7 percent.

* The most heavily traded shares by volume were miners Les Resources Yorbeau Inc YRB.TO , Goldcorp G.TO and Ecobalt Solution ECS.TO .

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

* Across all Canadian issues, there were 24 new 52-week highs and four new lows, with total volume of 45.09 million shares.

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